Supreme Court Rules Against Investors in Securities Fraud Case

[spanone]

that's right folks against You and Me. another royal fucking from our bu$h* supremes

~snip~
The Supreme Court today curbed the ability of investors who lost money through corporate fraud to sue businesses that may have helped facilitate the crime.

In what business interests and investors had described as the court's most important financial case of the year, the court ruled 5-3 that secondary actors such as vendors, accountants and lawyers cannot be liable for corporate fraud if investors did not rely on statements from them in making investment decisions.

The case involves a cable company and the suppliers of cable boxes, but it has been seen largely as a stand-in for investors who want to go after banks and others that allegedly allowed the energy trader Enron Corp. to disguise its financial problems prior to a collapse that produced heavy losses for investors. It has implications for other investor-motivated suits over alleged corporate fraud, including attempts by shareholders to recover billions of dollars in widening losses in mortgage industry investments.
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/15/AR2008011501329_pf.html

[napi21]

1. Boy don't ya jus HOPEa Pu gets to name the NEXT SCOTUS?

Talk about suporting the corp. welfare!

[jasmine621]

2. Court appointments are an issue the Dems need to talk about more.

No matter who the Dem President is, he or she will need a super majority in both houses of Congress to make any changes that benefit ordinary citizens. I think our candidates are missing the boat on this issue. Stop the race shit and get on with what really matters.

[spanone]

4. it's such a major issue....that's the bu$h* legacy (aka fucking)

[Hydra]

3. "Corps are above the law"

So says SCOTUS.

Well, that's just great. The POTUS, Corps and Mercs are now above the law.

SCOTUS jumped the shark in 2000, but they just keep going...