Justices Tighten Rules on Shareholder Suits

New York Times: By STEPHEN LABATON

WASHINGTON, June 21 — The Supreme Court dealt a new blow today to investors suing companies over accusations of fraud when it set a higher standard to prevent the lawsuits from being dismissed.

The decision was the second this week by the court that was a defeat for shareholders and a victory for the defendant companies. On Monday, the justices ruled that securities underwriters on Wall Street are generally immune from civil antitrust lawsuits.