The Supreme Court issued the following order today:

The motion of Former SEC Commissioners for leave to file a brief as amici curiae out of time is granted. The motion of John Conyers, Jr. and Barney Frank for leave to file a brief as amici curiae out of time is granted. The Chief Justice and Justice Breyer took no part in the consideration or decision of these motions.

Respondents had objected to the out-of-time filing by the Former SEC Commissioners. Separately, Tony Mauro speculates in the Legal Times whether Roberts or Breyer will “unrecuse” themselves. (Mauro quotes me and Professor Bainbridge (who gets all the good lines); the “anti-investor opinion” language is Mauro’s, however, and not mine: as I wrote in the Wall Street Journal and expressed to Mauro, the lower-court decision was decidedly pro-investor, if anti-trial lawyer.) As the order suggests, however, if Roberts and Breyer are going to divest themselves of Cisco stock so they can participate in the case, they have not done so yet. Earlier: Aug. 15; POL May 20.

Full disclosure: As an unnamed class member, I am a plaintiff in Stoneridge, and would be entitled to some small amount of class recovery. Also, I hate hate hate respondent Scientific-Atlanta with a deep burning passion, not least because Scientific-Atlanta attorneys subjected me to a harassing subpoena. Nevertheless, a victory for petitioners would be disastrous.

Filed under: class actions, securities litigation, Supreme Court