Crystal Ball

SCAS Alert (RiskMetrics) has an article on what the coming year may bring for securities litigators. The main speculation is whether the Democratic majorities in Congress will seek to overturn the Supreme Court’s decisions in Central Bank (no aiding and abetting liability) and Stoneridge (limiting scope of “secondary actor” liability).

Quote of note: “Likewise, James Cox, a securities law professor at Duke University, told the SCAS Alert that he expects that Congress would address securities litigation reform after grappling with ‘the 800-pound gorilla in the room–the issue of regulatory reform.’ He said he had heard that prominent plaintiffs’ firms and Senate offices have been working on draft legislation to address Stoneridge.”

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