WASHINGTON — Corporate America and investors like those financially harmed in the Enron Corp. collapse will be watching closely this week as the Supreme Court hears a lawsuit on whether third-party businesses that partner with troubled firms can be sued.
Business interests have jumped into the court fight, arguing that shareholders in companies that commit securities fraud should not be allowed to sue banks, accountants, law firms and suppliers that some say assisted in the fraud.
The high court case involves Stoneridge Investment Partners' lawsuit against Motorola Inc. and Scientific-Atlanta Inc., two technology companies that Stoneridge says helped a St. Louis company called Charter Communications inflate its revenue through a series of sham deals in 2000.
For more information see today's Arkansas Democrat-Gazette.
Subscribers can read the story here on ArkansasOnline.