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Stoneridge's Opening For Plaintiffs

Law360 (January 31, 2008, 12:00 AM EST) -- On Jan. 15, in the Stoneridge case, [1] the U.S. Supreme Court held that private federal securities-law claims may not be asserted against parties that allegedly helped an issuer make misleading public statements.

While the decision is welcome news for financial institutions, which, among others, routinely work on transactions that affect the financials of public companies, it should be noted that the court may have left open a narrow window for certain types of these so-called aiding and abetting claims.

Plaintiff-shareholders of Charter Communications, a public...
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