Enron Case Tests Bank Liability
Posted Apr 30, 2007 8:44 AM CDT
By Debra Cassens Weiss
The U.S. Supreme Court is being asked to expand aiding and abetting liability for banks.
Ben Stein argues in a New York Times column that the high court needs to protect shareholders and “send up a warning flare to investment banks” that they cannot aid fraud.
The court is being asked to overturn a ruling by a federal appeals court that dismissed a class-action suit against investment banks accused of concealing Enron’s financial problems.