Number: RS22723
Title: Primary Securities Fraud Liability: Stoneridge Investment v. Scientific-Atlanta, Inc.
Authors: Michael V. Seitzinger, American Law Division 
Abstract: On January 15, 2008, the United States Supreme Court issued its decision in Stoneridge Investment Partners v. Scientific-Atlanta, Inc., which was appealed from a decision by the Court of Appeals for the Eighth Circuit. The case concerned whether secondary actors who make no public statements concerning deceptive transactions engaged in by primary actors may be liable for fraud under the federal securities laws. The Court held that these secondary actors had not violated the major antifraud statute of the federal securities laws.
Pages: 4
Date: January 23, 2008