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Debate to discuss liability in securities fraud

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The Federalist Society student chapter at Indiana University Maurer School of Law is hosting a debate Nov. 17 in response to a bill in Congress that could overturn recent Supreme Court of the United States' decisions.

"Securities Fraud - Should Congress overturn Stoneridge and expose lawyers and financial advisors to greater liability?" will feature a debate between University of Chicago Law School assistant professor M. Todd Henderson and Maurer School of Law professor Donna Nagy. The Liability for Aiding and Abetting Securities Violation Act, S. 1551, would allow shareholders to sue secondary actors for fraud that is committed by their corporate clients. The bill would essentially overturn Stoneridge Investment Partners LLC v. Scientific-Atlanta Inc., et al., 128 S. Ct. 761 (2008), and Central Bank of Denver v. First Interstate Bank of Denver, 511 U.S. 164, 114 S. Ct. 1439 (1994).

The debate begins at noon in Room 122 of the law school and is open to the public.

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  1. Well, maybe it's because they are unelected, and, they have a tendency to strike down laws by elected officials from all over the country. When you have been taught that "Democracy" is something almost sacred, then, you will have a tendency to frown on such imperious conduct. Lawyers get acculturated in law school into thinking that this is the very essence of high minded government, but to people who are more heavily than King George ever did, they may not like it. Thanks for the information.

  2. I pd for a bankruptcy years ago with Mr Stiles and just this week received a garnishment from my pay! He never filed it even though he told me he would! Don't let this guy practice law ever again!!!

  3. Excellent initiative on the part of the AG. Thankfully someone takes action against predators taking advantage of people who have already been through the wringer. Well done!

  4. Conour will never turn these funds over to his defrauded clients. He tearfully told the court, and his daughters dutifully pledged in interviews, that his first priority is to repay every dime of the money he stole from his clients. Judge Young bought it, much to the chagrin of Conour’s victims. Why would Conour need the $2,262 anyway? Taxpayers are now supporting him, paying for his housing, utilities, food, healthcare, and clothing. If Conour puts the money anywhere but in the restitution fund, he’s proved, once again, what a con artist he continues to be and that he has never had any intention of repaying his clients. Judge Young will be proven wrong... again; Conour has no remorse and the Judge is one of the many conned.

  5. Pass Legislation to require guilty defendants to pay for the costs of lab work, etc as part of court costs...

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