California Supreme Court Adopts Majority Rule That A Plaintiff In A Derivative Suit Must Maintain Conintuous Stock Ownership Throughout The Pendency Of The Litigation
Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc., et. al. Parties Who Have "Aided and Abetted" a Public Corporation's Securities Fraud Violation, but Have Made no Public Misstatements or Violated a Duty to Disclose, Cannot be Directly Liable for Securities Fraud under Section 10(b) of the Securities Exchange Act of 1934.