On Wall Street, they say, a hold is as good as a buy, and in the coming weeks a Supreme Court judge might decide whether that's a fact of law, too.

A class-action lawsuit that's been rattling around in the nation's legal system for nearly three years, Kircher v. Putnam Funds could determine which investors have a right to sue for damages in cases of securities fraud, according to leading legal scholars. That right is currently reserved to active traders and excludes long-term investors.

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