Washington, DC—American Association for Justice (AAJ) Chief Executive Officer Jon Haber today issued a statement regarding the Supreme Court’s decision in Tellabs Inc. v. Makor Issues and Rights Ltd.
“At a time when many Americans depend upon investments for their savings and retirement, the Supreme Court’s decision today highlights the need to protect shareholders against corporate insiders playing games with their money. The Court recognized that Congress did not intend to make it impossible for investors to hold corporate wrongdoers accountable. The Court also noted that the Seventh Amendment of the Constitution protects their right to present valid claims to a jury. The decision to vacate the judgment and remand for further proceedings was a narrow one, based on the particular facts in this case. It should not be seen as a green light for federal courts to shut the courthouse doors to the valid claims of defrauded shareholders.”