Stoneridge: A Step Forward For "Loss Causation"

Law360, New York (January 28, 2008, 12:00 AM EST) -- The Supreme Court’s recent decision in Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc., No. 06-43, reinforced its earlier decision in Central Bank of Denver NA v. First Interstate Bank of Denver NA, 511 U.S. 164 (1994), which held that there is no private right of action for aiding and abetting a violation under Section 10(b) of the Securities and Exchange Act.

In Stoneridge, the Court concluded that the allegedly deceptive conduct of Respondents Scientific-Atlanta and Motorola was at most secondary to the alleged fraud perpetrated by...
To view the full article, register now.