The SEC’s decision to only seek clawback from TheStreet’s CFO—and not its CEO—stands in contrast to the agency’s actions in other cases. Last month, U.S. District Judge Sam Sparks in Austin held in this opinion that the SEC can seek to clawback compensation paid to the CEO and CFO of ArthroCare Corporation, even though the two execs weren’t aware of the misconduct that caused a restatement of financial results. And in 2009, U.S. District Judge G. Murray Snow in Phoenix held in this ruling that Maynard Jenkins, the former CEO of CSK Auto Inc., could likewise be subject to a clawback without a showing of individual wrongdoing.
via SEC Seeks Compensation Clawback from TheStreet’s Ex-CFO, but Skips Former CEO — The Litigation Daily
