Supreme Court Rules Against Investors

Ruling in a highly significant business case, the Supreme Court today said investors who are seeking to recover damages in securities fraud cases cannot sue lawyers, banks and other businesses who allegedly help corporations manipulate stock prices. The 5-3 decision, written by Justice Anthony Kennedy, says investors cannot sue those third parties because the businesses did not directly mislead them into buying or selling stocks. "The investors," Kennedy wrote, "did not rely upon their...Full Story
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