Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Saturday, 02.17.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4  5
 6  7  8  9  10  11  12
 13  14  15  16  17  18  19
 20  21  22  23  24  25  26
 27  28  29  30  31
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (0 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Jan 22,2008
Supreme Court denies Enron investment case
by UPI

WASHINGTON - The U.S. Supreme Court refused Tuesday to hear a $40 billion investors' lawsuit against investment banks doing business with the now-defunct Enron Corp.

The justices denied a review of California Regents vs. Merrill Lynch, et al, which comes a week after its 5-3 ruling that third parties cannot be sued over corporate fraud unless investors relied on the parties when making investment decisions, Scotusblog.com reported.

In the appeal decided Tuesday, investors sought $40 billion in damages from several investment houses, saying they participated in a scheme to falsely inflate the financial condition and the stock value of the huge, scandal-ridden energy company, Enron Corp. The plaintiffs were appealing the ruling of the 5th U.S. Circuit Court of Appeals, which found the investment firms did not directly mislead investors.

Justice Anthony M. Kennedy did not participate in Tuesday's order. He wrote the majority opinion in the 5-3 decision in Stoneridge Investment Partners vs. Scientific America, et al.

Meanwhile, the court ordered the 9th U.S. Circuit Court of Appeals to reconsider its ruling allowing a scheme-liability claim involving alleged participation by business partners trying to boost the financial standing of Homestore.com Inc., Scotusblog. com said.

© 2008 United Press International. All Rights Reserved.

869 times read

Related news
Sue chef by the St. Louis Post Dispatch posted on Feb 01,2008

Mississippi inmate scheduled to die by UPI posted on Oct 30,2007

U.S. Supreme Court ignores gun cases by UPI posted on Nov 13,2007

What's Really Driving Your Portfolio Performance? by NewsUSA posted on Feb 09,2006

Wal-Mart will Seek further appellate review in gender class action lawsuit by Bend Weekly News Sources posted on Feb 09,2007

Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 38 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?