Foley Partner Patrick Daugherty was quoted in an article that appeared on Securities Law360 on October 13, 2009 titled “Stoneridge Bill Sparks Enforcement Debate.” Daugherty discusses pending legislation proposing to reverse the U.S. Supreme Court’s ruling in Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc., noting that overturning the decision could have an impact on business transactions by potentially exposing a wide variety of players to aiding and abetting lawsuits. He adds that the pressure on plaintiffs to settle in the face of frivolous securities lawsuits can be extreme, particularly when plaintiffs are facing billion-dollar claims.
