WASHINGTON, Jan. 22 (UPI) -- The U.S. Supreme Court refused Tuesday to hear a $40 billion investors' lawsuit against investment banks doing business with the now-defunct Enron Corp.
The justices denied a review of California Regents vs. Merrill Lynch, et al, which comes a week after its 5-3 ruling that third parties cannot be sued over corporate fraud unless investors relied on the parties when making investment decisions, Scotusblog.com reported.