Here is an update from Professor Bainbridge on an important business case in the U.S. Supreme Court. I quote from his email, which provides links to scholarly analysis of the case:
Next [week], the Supreme Court will hear oral argument in Stoneridge Investment Partners v. Scientific-Atlanta, arguably the most important securities law case to reach the Court in a decade. It requires the Court to decide whether third-parties, such as financial advisors, auditors, attorneys, or vendors, who engage in allegedly fraudulent transactions with a public corporation, but who do not speak or provide financial statements or other disclosures to investors can be held liable under SEC Rule 10b-5.
I have two recent substantive posts on Stoneridge that might be of interest to you and, of course, your readers:
Stoneridge Investment Partners versus Scientific-Atlanta: An Introduction and Overview:
This post provides an overview of the facts of the case and the main legal issues presented.
Stoneridge and SOX Section 404: Conference Remarks:
This post looks at the the interaction of scheme liability and internal controls under Sarbanes-Oxley section 404.