Bell's Theorem: Does the Clauser-Horne Inequality Hold for All Local Theories?

The claim that the Clauser-Horne inequality $S\left(\varphi \right)<~1$ is valid for all local theories is criticized. The criticism is based on the author's proof that this universality claim is incompatible with the conservation law of angular momentum. There exists an infinity of counterexamples to the universality claim made for $S\left(\varphi \right)<~1$. So Clauser and Horne offer no valid proof of the nonlocality of the quantum formalism; consequently experiments like Aspect's cannot be said to refute Einsteinian locality.