U.S. Supreme Court
Justice Breyer Sells Stocks to Participate in More Cases
Posted Oct 7, 2008, 06:13 am CST
By Debra Cassens Weiss
Justice Stephen G. Breyer will be able to participate in more business cases before the Supreme Court because he and his wife are selling many of their stocks.
Court spokeswoman Kathy Arberg confirmed the stock sales, Bloomberg News reports. The Breyers owned 38 stocks, more than any other justice, and are selling much of their holdings, Arberg said.
Breyer is relying on a law that allows justices and other government officials to defer capital gains on stock sales made to avoid conflicts of interest, according to the story. Breyer was unable to participate in a case that shielded third parties from liability in many investor lawsuits, Stoneridge Investment Partners v. Scientific-Atlanta. Chief Justice John G. Roberts Jr. sold stocks so he was able to hear the same dispute.
Hat tip to How Appealing.