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The SEC Flip-Flops at Supreme Court, Betraying Investors |
September 16, 2009
Previously published by The Advocate for Institutional Investors, First Quarter 2007 on January 2007
In more than a dozen cases litigated during the last eight years, the Securities and Exchange Commission (¿SEC¿) has consistently argued to courts across the country that a key provision of
the Private Securities Litigation Reform Act of 1995 (the ¿PSLRA¿) should be interpreted in favor of investors. Unfortunately for the victimized investors that the SEC is supposed to protect,
in an important case currently pending before the Supreme Court, the agency has sided with corporate interest groups and asked the Supreme Court to adopt a radically different ¿ and far more stringent ¿ interpretation of the PSLRA.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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