Getting your player ready...
The U.S. Supreme Court put new limits on shareholder suits against a company’s banks and business partners in a ruling that may thwart efforts to recoup billions of dollars lost in frauds at Enron Corp. and HealthSouth Corp.
The ruling is a triumph for business groups in what they called their highest priority in the court’s 2007-08 term.
Trade groups representing banks, accounting firms and law firms took an especially keen interest, saying their members might present tempting targets for shareholder lawyers.
