Stoneridge Is Good News For Law Firms

Law360, New York (June 5, 2008, 12:00 AM EDT) -- In a welcome development for law firms that advise public companies, a federal district court has confirmed that a limitation on "scheme" liability announced by the U.S. Supreme Court earlier this year indeed should protect law firms from the securities fraud claims that inevitably ensue when a public company collapses amid scandal.

The April 29 ruling in In re DVI Inc. Securities Litigation, __ F.R.D. __, 2008 WL 1900384 (E.D.Pa. 2008) — one of the first reported decisions to apply Stoneridge Investment Partners, LLC v. Scientific-Atlanta,...
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