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Wednesday
Aug082007

The Stoneridge Case and the Solicitor General

Link: Reed Kathrein's Website.

A CALL TO ACTION ON BEHALF OF INVESTORS

     Paul Silver, Assistant Attorney General,Counsel to the Washington State Investment Board has informed me of the following:
     In the Stoneridge case, despite the SEC voting to support investor victims, the Solicitor General let the June 11 deadline pass without filing an amicus brief in support of petitioners in the Supreme Court. 
     The next deadline in the case is August 15, by which time amicus parties supporting the defendants must file.   
     Many investors hope and urge that the Solicitor General will not file a brief on behalf of defendants. Also, a number of individuals and institutions are contacting individual legislators and others who have influence with the administration asking them to encourage the Solicitor General, once having passed on their opportunity to support the victims, at least to stay neutral and not support the defendants.
     Attached is information about the current status of the suit filed by Enron shareholders against the banks that orchestrated the Enron fraud. Attached are the following:
* Background information on the status of the case.
* Key news articles and op-eds.
<<Amicus Curious How Quickly They Forget, Financial Week 061807>>
<<Where Is Washington's Love for Shareholders, NY Times, 062407>>
<<Second Betrayal, Houston Chronicle 061607>>
<<Defend Main St., Not Wall St., LA Times, 053007>>
<<Holding Accomplices Accountable, NY Times, 051307>>
<<President weighed in on case, AP 061307>>
<<Stuff Happens at Justice, Washington Post 061307>>
* Brief filed recently by former SEC Chairs Arthur Levitt and William Donaldson and former SEC Commissioner Harvey Goldschmidt in support of the plaintiffs in the Stoneridge case.
Also, the following are links to the Amici briefs in Stoneridge case:
* Stoneridge plaintiff's brief:
www.universityofcalifornia.edu/news/enron/stoneridgeplaintiff.pdf
* University of California :
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-uc.pdf
* States' Attorneys General:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-ag.pdf
* North American Securities Administrators Association:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-nasaa.pdf
* Council of Institutional Investors:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-cii.pdf
* Leading academic experts:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-experts.pdf
* Labor organizations:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-labor.pdf
* States of Arkansas, New Jersey and Rhode Island, and
pension funds in New York, Pennsylvania and Michigan:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-arkansas.pdf
* New York State Teachers Retirement System et al.:
www.universityofcalifornia.edu/news/enron/stonridgeamicus-nystrs.pdf
* Los Angeles Co. Employees Retirement Association et al.:
www.universityofcalifornia.edu/news/enron/stonridgeamicus-lacera.pdf
* AARP, U.S. PIRG and Consumer Federation of America:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-aarp.pdf
* American Association for Justice:
www.universityofcalifornia.edu/news/enron/stoneridgeamicus-aaj.pdf

Reader Comments (1)

One must ask, is any court, anywhere, going to challenge the system in a case of this size, with its huge fallout potential?I think not. The banks have always had a form of "favored protection" and I see no reason why this will not continue.

September 7, 2007 | Unregistered CommenterJack Payne

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