The Stoneridge brief

An amici curiae brief in the Stoneridge case has been filed arguing against a 10b-5 private right of action “against a non-trading, non-speaking entity that merely ‘enables’ the commission of an alleged fraud by a public company on its shareholders.” See Prof Bainbridge’s post on the brief, and my earlier post on the case.

As Steve graciously notes, I have signed on, in distinguished company. The WSJ Law Blog notes that the signatories include “big-wig professors Richard Epstein, Robert Clark and Stephen Bainbridge.” Prof B has a longer but still incomplete list.  For the record, the other wigless professors the Law Blog doesn't mention are Steve Choi (NYU), John Coates and Allen Ferrell (Harvard), Roberta Karmel (Brooklyn), Richard Roll (UCLA), Roberta Romano (Yale) and Joe Grundfest, Ken Scott or Jeff Strnad (Stanford).  Grundfest and Karmel are listed as former SEC commissioners.