Court Rules Against Investors Tuesday January 15, 10:09 am ET Justices Rule Against Investors in Important Securities Fraud Case
WASHINGTON (AP) -- The Supreme Court on Tuesday curbed investor lawsuits against businesses accused of scheming fraudulently to inflate stock prices. In a 5-3 ruling, the court gave a measure of protection from securities suits to suppliers, banks, accountants and law firms that do business with publicly traded companies.
The court ruled against investors who accused two suppliers of colluding with Charter Communications Inc. to deceive Charter's stockholders and manipulate the price of the cable TV company's stock.