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Enforcement Actions Admissions of Liability

Dorsey & Whitney LLP

This Week In Securities Litigation

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This was the period of admissions. The SEC secured admissions in three actions over the period with beginning the week of Thanksgiving and continuing into the beginning of December. Cases filed during the period include: A...more

Dorsey & Whitney LLP

SEC Obtains Admissions in Settlement With Grant Thornton

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The SEC filed its third action in recent weeks in which admissions of fact were required as part of the settlement process. In this instances the firm also admitted its conduct violated the federal securities laws. In the...more

Dorsey & Whitney LLP

SEC Demands Admissions For Compliance Failures

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When the Commission adopted its policy of requiring admissions to settle certain enforcement actions no bright line test was created. Rather, an array of facts were to be assessed on an individual, case-by-case basis....more

Cozen O'Connor

The Second Circuit Confirms the SEC’s Ability to Settle Without Requiring Admissions of Wrongdoing

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In November 2011, Judge Jed Rakoff of the Southern District of New York ignited a firestorm of commentary and concern among the securities bar by declining to approve a settlement between the SEC and Citigroup in which the...more

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