Securities Law Alert: SEC Takes Action Against Abusive Short Sales

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On July 27, 2009, the Securities and Exchange Commission (the SEC or Commission) announced steps to curtail abusive short sales and increase market transparency relating to those sales, as part of its ongoing efforts to strike an appropriate balance between regulation of abusive practices and allowing market participants to engage in legitimate short sale activity.1

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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