AttorneysEd Center

In Morrison, Harris Associates, Merck, Skilling and Free Enterprise, the Supreme Court handed down a series of decisions this past term impacting securities litigation. Morrison involved the so-called “foreign-cubed” cases but may ultimately impact the reach of SEC enforcement. Harris Associates centered on suits involving adviser fees, while Merck and Skilling involved potential liability in, respectively, civil securities fraud actions and white collar prosecution. Free Enterprise keyed on the viability of a key part of the Sarbanes Oxley Act, the Public Company Accounting Oversight Board. The Supreme Court has already accepted cases for hearing next term involving key questions such as the dividing line between primary and secondary liability and what is material when pleading a cause of action for fraud. These and other cases may shape the future of securities litigation for years to come.

Join Tom Gorman of Porter Wright Morris & Arthur LLP as he analyzes the foregoing securities litigation cases decided by the Supreme Court this past term and looks forward to significant actions the Court has accepted for review in the term which will begin on the first Monday in October 2010.