It is, by general consent, the most important securities-litigation clash for a generation. A case now before the Supreme Court, Stoneridge v Scientific-Atlanta, is shaping up to be a key test of attitudes towards shareholder class actions. A decision in favour of aggrieved investors would greatly increase the number of companies on which trial lawyers could train their sights. A ruling the other way would be a crushing defeat for the plaintiff's bar. Adding to the suspense, the government bodies with an interest in the case cannot agree on a common position.
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