Civil Litigation,
Corporate
Nov. 19, 2005
Private Plaintiffs Smell Blood In Section of Sarbanes-Oxley
With corporations still reeling from the expansive ramifications of the Sarbanes-Oxley Act of 2002, another complication may be emerging for corporate officers under the act's Section 304 - a complication that could add substantially to the price defendants pay in securities litigation.
William F. Sullivan
Partner, Paul Hastings
515 S Flower St
Los Angeles , CA 90071
Susie Yoo
Associate, Paul Hastings
With corporations still reeling from the expansive ramifications of the Sarbanes-Oxley Act of 2002, another complication may be emerging for corporate officers under the act's Section 304 - a complication that could add substantially to the price defendants pay in securities litigation.
The Securities and Exchange Commission has long demanded the disgorgement of profits from securities fraud as a remedy in securities actions, but the amount disgorged almost always has been tied dir...
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