We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

CornerStone Decision Reinforces Dura Precedent

Law360 (May 12, 2006, 12:00 AM EDT) -- In one of the first applications of the Supreme Court’s landmark ruling in the Dura Pharmaceuticals case related to class certification, a federal court has pared down the proposed class in the CornerStone Propane Partners securities litigation.

Shareholders had brought the suit against CornerStone alleging that between 1998 and 2001, the company had disseminated false and misleading statements to investors to hide its true financial situation.

In July 2001, CornerStone released a statement acknowledging its financial instability and subsequently made several financial restatements, which were followed...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.