Stoneridge Investment Partners v. Scientific-Atlanta, Inc., No. 06-43
15 January 2008
Mayer Brown Legal Update
15 January 2008 - In a case argued by Mayer Brown partner Stephen Shapiro and previously described by the Wall Street Journal as "the biggest securities-litigation court clash in a generation," the Supreme Court today affirmed that third parties who do not themselves mislead investors cannot be held liable for damages under Section 10(b) of the Securities Exchange Act even if their conduct facilitates the fraud of another.