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Conferees on financial reform reject Stoneridge amendment

From Reuters, "(Reuters) - Senators on Wednesday beat back a House measure giving shareholders the power to sue third parties such as banks and accountants not directly involved in securities fraud."

Sen. Chris Dodd (D-CT) instead won support for a GAO study of securities fraud and the effects of the Stoneridge v. Scientific Atlanta ruling. See also Dow-Jones, earlier POL post.

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Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute

Katherine Lazarski
Press Officer,
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.