• Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Past Events
  • Contact
Securities Docket
  • Class Actions
  • Criminal
  • Events
  • Features
  • Global
  • People
  • SEC
Browse: Home / 2008 / September / 06 / Is SEC Aggressiveness Leading to More Trials and Defeats?

Is SEC Aggressiveness Leading to More Trials and Defeats?

By Securities Docket on September 6, 2008, 5:09 pm

Luis Mejia, the SEC Enforcement Division’s chief litigation counsel, says that the SEC has a 21-6 trial record during the current fiscal year (which ends September 30) and a 48-12 record during the past three fiscal years. Mejia also told the National Law Journal that the SEC has prevailed on 81 percent of the motions for summary judgment filed by defendants in the past two fiscal years.

Howard Schiffman

Howard Schiffman

The article in the NLJ looks at a recent flurry of SEC cases dismissed by federal courts.  According to some defense counsel, these victories may be the result of the SEC taking such an aggressive stance in cases that defendants and their lawyers feel compelled to litigate.  “The cases that are going to trial are marginal, cases that should never have been brought,” said Howard Schiffman, head of securities litigation at Schulte Roth & Zabel.  “What you have is the price of poker has gone up so substantially for defendants that they have no choice but to litigate,” Schiffman said. “Twenty-five years ago, you could settle with the SEC and go on with your career. In the current milieu it is often career-ending.”

Read the National Law Journal article

Posted in SEC | Tagged Trials

« Previous Next »

Subscribe

‘Enforcement 40’ for 2020

The inside story behind the collapse of Queensland Nickel

Our Sponsors

Securities-Docket_260x125_14Sec

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2023 Securities Docket.

  • Home
  • About
  • ‘Enforcement 40’ for 2020
  • Webcasts
  • Enforcement Hall of Fame
  • Contact
  • Criminal
  • Class Actions
  • Features
  • Global
  • People
  • SEC
  • Events