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Ruling Limits Investors' Legal Options

Publication Date: 
March 22, 2006
Source: 
Washington Post
Author: 
Brooke A. Masters

"The Washington Post" quotes Professor Joseph Grundfest, who comments on the Supreme Courts' ruling that investors may not file a large class-action law suit in state courts:

"Had it gone the other way, it would have opened a gaping and unexpected loophole" in the 1998 law, which was specifically designed to weed out weak securities class-action lawsuits, said Stanford University law professor Joseph Grundfest. This decision "maintains the status quo."