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Focus (Forum & Focus)

Feb. 15, 2008

Supreme Relief

Focus Column - By William F. Sullivan, Peter M. Stone and D. Scott Carlton - A recent Supreme Court decision did away with 'scheme liability' under securities laws.

FOCUS COLUMN

By William F. Sullivan, Peter M. Stone
and D. Scott Carlton
This article appears on Page 7.

      In a 5-3 decision, the U.S. Supreme Court appears to have brought an end to "scheme liability" under the federal securities laws. Justice Anthony M. Kennedy's majority opinion in Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc. 2008 DJDAR 569 (U.S. Sct. Jan. 15, 2008), holds that third parties are...

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