• The SEC Flip-Flops at Supreme Court, Betraying Investors
  • September 16, 2009 | Authors: John C. Browne; Jai K. Chandrasekhar
  • Law Firm: Bernstein Litowitz Berger & Grossmann LLP - New York Office
  • 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.