Stoneridge Investment Partners v. Scientific-Atlanta

Infobox SCOTUS case
Litigants=Stoneridge Investment Partners v. Scientific-Atlanta
ArgueDate=October 9
ArgueYear=2007
DecideDate=January 15
DecideYear=2008
FullName=Stoneridge Investment Partners L.L.C., Petitioner v. Scientific-Atlanta, Inc., et al.
USVol=
USPage=
Docket=06-43
CitationNew=552 U.S. ___; 128 S.Ct. 761; 2008 WL 123801
Citation=
Prior=Certiorari to the United States Court of Appeals for the Eighth Circuit
Subsequent=
Holding=Third parties, such as investment banks, accounting firms and suppliers, can be shielded from liability if they engage in business with companies that are involved in securities fraud.
SCOTUS=2006-2008
Majority=Kennedy
JoinMajority=Roberts, Scalia, Thomas, Alito
Dissent=Stevens
JoinDissent=Souter, Ginsburg
NotParticipating=Breyer
LawsApplied=Section 10(b) of the Securities Exchange Act.

"Stoneridge Investment Partners v. Scientific-Atlanta", 552 U.S. ___ (2008), was a decision by the United States Supreme Court, which held that in order to proceed with such a lawsuit, plaintiffs must be able to show that they relied, in making their decision to acquire or hold stock, on the deceptive behind-the-scenes behavior of investment banks, accountants and vendors. "Stoneridge" was recognized by "The New York Times" as the “most important securities fraud case in years,” [cite news |first=Linda |last=Greenhouse |authorlink= |coauthors= |title=Supreme Court Restricts Securities Lawsuits |url=http://www.nytimes.com/2008/01/15/washington/15cnd-scotus.html |work=New York Times |publisher= |date=2008-01-15 |accessdate= ] and also commented by "Wall Street Journal", [cite news |first=Jess |last=Bravin |authorlink= |coauthors=Scannel, Kara |title=Top Court Limits Shareholder Fraud Suits |url=http://online.wsj.com/article/SB120040345232291217.html |work=Wall Street Journal |publisher= |date=2008-01-16 |accessdate= ] "Forbes", [cite news |first=Brian |last=Wingfield |authorlink= |coauthors= |title=Stoneridge And The Court |url=http://www.forbes.com/home/businessinthebeltway/2008/01/15/lawsuits-stoneridge-investing-biz-beltway-cx_bw_0115scotus.html |work=Forbes |publisher= |date=2008-01-15 |accessdate= ] and "Business Week". [cite news |first=Douglas |last=McCollam |authorlink= |coauthors= |title=StoneRidge Ruling Shields Third-Party Advisers |url=http://www.businessweek.com/investor/content/jan2008/pi20080115_844276.htm |work=BusinessWeek |publisher= |date=2008-01-15 |accessdate= ]

ee also

*List of United States Supreme Court cases, volume 552
*"Central Bank v. First Interstate Bank" (1994)

References

Further reading

*Cite journal |last=Edison |first=Andrew |year=2008 |title=The "Stoneridge" case – much ado about nothing? |journal=Journal of Investment Compliance |volume=9 |issue=1 |pages=5–9 |url= |issn= |doi=10.1108/15285810810859243
*Cite journal |last=Souza |first=Travis S. |year=2008 |title=Freedom to Defraud: "Stoneridge", Primary Liability, and the Need to Properly Define Section 10(b) |journal=Duke Law Journal |volume=57 |issue= |pages=1179–1207 |url=http://www.law.duke.edu/journals/dlj/articles/DLJ57P1179.HTM |issn= |doi=
*Cite journal |last=Walter |first=David |year=2008 |title=Developments in US Securities Litigation: The Decision in "Stoneridge Investment Partners v Scientific-Atlanta" |journal=Journal of International Banking Law |volume=23 |issue=5 |pages=267–270 |url= |issn=0267937X |doi=