The U.S. Supreme Court issued its much-awaited decision in Tellabs v. Makor on June 21, 2007. The case is available at http://www.supremecourtus.gov/opinions/06pdf/06-484.pdf. (Hat tip to The D&O Diary for the link to the case.

I have read several blog entries about the case, which was supposed to clarify what a plaintiff must show in order to meet the heightened pleading standards found in the Private Securities Litigation Reform Act of 1995. Despite the headlines in the press proclaiming it a victory for business, I don’t believe it is going to have a major impact on the number of securities class action cases filed or on the percentage of those cases that get tossed on a motion to dismiss.

I guess this is another example of the courts delivering less than expected. Life and business will go on…