Focus (Forum & Focus)
May 9, 2007
'Gatekeeper' Liability
Focus Column - By Mark Labaton - How the courts in securities litigation define scheme liability by so-called “gatekeepers” could mean the difference between investors recovering, or not recovering, a significant share of their losses.
By Mark Labaton
"Scheme liability" is the method by which "gatekeepers" - investment banks, accounting firms and law firms - as well as other secondary actors are held accountable for their misconduct in securities-fraud lawsuits.
How the courts define scheme-liability claims could mean the difference between investors' recovering or not recovering a significant share of thei...
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