Oct. 4, 2013
Beware the consequences of admission in SEC settlements
Apart from public image issues, companies worry that private civil litigation is a certainty after such an admission.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
These days the Securities and Exchange Commission wants some defendants not merely to pay, but also to admit guilt. Admitting guilt in a civil case? This rubs many defendants the wrong way. Besides, it is an about-face from the SEC's longstanding practice of settling civil litigation without requiring the defendant to admit wrongdoing.
Exactly what circumstances will merit this special "I'm guilty and bad" treatment w...
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