Supreme Court Wisdom Prevails in Stoneridge Case by Andrew C. McCarthy
These are challenging days for American business. Overreaction to the Enron scandal resulted in crushing regulation that has sent corporations scampering for friendlier foreign climes. Worse, a litigation system driven by class-action lawyers in pursuit of mega-paydays has made the cost of defending against frivolous claims so prohibitive that the extortion of million-dollar settlements is attractive compared to its alternative: the extinction portended by runaway juries and billion-dollar verdicts.
On Tuesday, however, business got a reprieve. The trial lawyers seemed poised to push it over a cliff, and with it the integrated global economy -- the engine of unprecedented growth that produces jobs, alleviates suffering, and cements international alliances.
Thankfully, the Supreme Court said no.
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