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Supreme Court Curbs, but Doesn't Kill, the Shareholder Class Action

Updated with reaction to today’s ruling.

Shareholder class actions—the bane of corporate management—had a near-death experience at the Supreme Court but survived a ferocious assault from business interests. In curbing but not eliminating the controversial form of litigation, the high court’s conservative majority revealed again a fascinating fissure between Chief Justice John Roberts and three of his more aggressive colleagues.