June 14, 2007

While political pressure from trial lawyers caused SEC Chair Chris Cox to take the poor public policy position of supporting the trial-lawyer position in the pending Stoneridge appeal, the Bush administration held firm for protecting investors from trial-lawyer predation and refused to file an amicus brief in support. The question now becomes whether they'll file an amicus brief in opposition in July. Barney Frank and the AFL-CIO carry water for Bill Lerach and try to make political hay over the fact that the Bush Administration is doing the right thing. The Washington Post story, written by Carrie Johnson, somehow manages to ignore the litigation lobby's role in all this. Lyle Roberts has additional links, including to the plaintiffs' brief.