Corporate Governance

Stoneridge Affirmed

By J. Robert Brown

By a 5-3 vote, the US Supreme Court affirmed the 8th Circuit opinion in Stoneridge.  The opinion is here.  The Court broke along predictable lines, with Scalia, Kennedy, Alito, Roberts and Thomas in the majority (Scalia, Thomas and Kennedy were in the majority in Central Bank, the opinion that eliminated aiding and abetting liabilty in actions under Rule 10b-5) and Ginsburg, Souter and Stevens (all three in dissent in Central Bank) in dissent in this case.  We'll have more on this later.   

Full post as published by The Race to the Bottom on January 15, 2008 (boomark / email).