Investment Chat Board Lawsuits Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Investment Chat Board Lawsuits

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Jeffrey S. Mitchell who wrote (9927)	2/13/2007 9:52:06 AM
From: scion	Read Replies (1) of 12465

U.S. SEC seeks to curtail investor suits: NYT Tue Feb 13, 2007 3:50AM EST reuters.com NEW YORK (Reuters) - The U.S. Securities and Exchange Commission has taken steps on two fronts to protect corporations, executives and accounting firms from investor lawsuits that accuse them of fraud, the New York Times reported in a story published on Tuesday. Last week, the commission filed a brief in the Supreme Court urging the adoption of a legal standard that would make it harder for shareholders to prevail in fraud lawsuits against publicly traded companies and their executives, the paper said. At the same time, the agency's chief accountant told a conference that it was considering ways to protect accounting firms from large damage awards in cases brought by investors and companies, the paper said. Christopher Cox, the commission's chairman, said in an interview that both efforts were in the best interests of investors, because they aimed at preventing the accounting industry from further consolidation and at limiting what he called "fraudulent lawsuits", including some he said were filed by "professional plaintiffs", the Times said. The SEC was not immediately available to comment. reuters.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next