On February 17, the U.S. Supreme Court issued a stay in American Tradition Partnership v Bullock, 11A762. This is the case that reached the U.S. Supreme Court from the Montana Supreme Court, over whether corporations may make independent expenditures favoring or opposing candidates for state office. The Montana Supreme Court, on December 30, 2011, had upheld the Montana law making such independent expenditures illegal. The U.S. Supreme Court action of February 17 will let corporations make such expenditures, starting today, but only on a temporary basis, until the case is finally settled.
It is very likely the U.S. Supreme Court will hear this case. Here is the U.S. Supreme Court order. Thanks to Rick Hasen for the link.