Bad News for Lawyers....
And accountants, and investment bankers. Senator Arlen Specter (D-PA) has introduced legislation that, if passed, would make it easier for investors to sue law firms, accountants and investment banks involved in perpetrating fraud. The law would effectively overrule Supreme Court precedent placing limits upon suits against parties with indirect involvement in fraud.
Read more — and comment — over at Going Concern (link below).
Arlen Specter Not Pandering to the Bean Counter Vote [Going Concern]
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