Letter to the Editor pt 1. business editorial position paper

Letter to the Editor pt 1. business editorial position...

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Chen 1 Kristin Chen Professor Peine World Inc. 10/18/2007 “Big-Money Battle Pits Business vs. Trial Bar”— Stoneridge vs. Scientific-Atlanta Should shareholders be able to sue lawyers and other third parties in corporate fraud suits? This controversial topic is being rekindled by Stoneridge Investment Partners LLC in a lawsuit against Scientific-Atlanta. Next week, the Supreme Court will hear what is considered one to be of the biggest securities-litigation court clashes in a generation—its decision on whether shareholders can sue third parties accused of aiding a U.S. corporation that defrauds its investors will set a precedent for securities-litigation and has the power to define liability of third parties—accountants, bankers, lawyers, or suppliers. This case may even ultimately determine the fate of the Enron Corporation investors’ forty billion dollar lawsuit. Both sides have rallied support from some of the most important names in politics and the economy: the trial bar is backed by two house committee chairmen, eighteen pension funds, thirty-two state attorneys general, and the Securities Exchange Commission (SEC) itself while big business is espoused by the U.S. chamber of commerce, the Nasdaq and NYSE Euronext exchanges, seven high-profile New York lawyers, as well as the Justice Department’s solicitor general who represents the views of the White House. Stoneridge Investment Partners LLC v. Scientific –Atlanta Inc.
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This note was uploaded on 02/14/2008 for the course D SOC 111 taught by Professor Peine,emelie during the Spring '08 term at Cornell University (Engineering School).

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Letter to the Editor pt 1. business editorial position...

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