Tuesday, Oct 09, 2007
Synthetic CDO, Synthetic CDO, please pick up the white courtesy phone
Forbes: Roe Vs. Wade For The Securities Industry
The dramatic verbiage is not misplaced. Without question, there's a lot riding on the outcome of StoneRidge Investment Partners LLC vs. Scientific Atlanta, the high-profile securities case scheduled to be heard by the Supreme Court this week.
CCharacterized by some as the " Roe vs. Wade for the securities industry" and others as "the most important securities case in a generation," the eventual decision will have a significant impact on whether investors in companies that commit securities fraud should be able to sue investment banks, accountants, lawyers and others who were direct "participants" in that deception. Current shareholders' rights for going after third parties that aid or abet corporate fraud are not as clearly defined as one would think.
1 Comment
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1. whiteknight said...
This is THE most important issue yet to come to full attention: The dreaded synthetic CDO.