Fortune has an article on Supreme Court nominee Judge Samuel Alito’s record in business cases. The article briefly discusses a securities class action decision that was favorable for the defendant company.
Quote of note: “In a shareholder class action suit brought against Burlington Coat Factory after its stock price plummeted, Alito’s opinion came down on the side of the company, but in a nuanced way. ‘It suggests that he’s not particularly hostile to securities plaintiffs and many judges are,’ says David Hoffman, who teaches corporate law at Temple University.”
The 10b-5 Daily 