2010 Roundtable Series: Securities
The recession, various stock-option backdating and honest-services cases, and growing disfavor with Sarbanes-Oxley (Pub. L. 107-204 (2002)) all make these heady times for securities litigators. The Public Company Accounting Oversight Board (PCAOB) created by Sarbanes-Oxley is being challenged for being unconstitutional while everyone is still reeling from the ramifications of the Twombly (Bell Atlantic Corp. v. Twombly (550 U.S. 544 (2007)) and Iqbal (Ashcroft v. Iqbal, 129 S.Ct. 1937 (2009)) decisions—sometimes referred to as “Twiqbal.”
A panel of experts discusses these topics and the changes that Robert Khuzami, director of the division of enforcement for the Securities and Exchange Commission(SEC), is making at the SEC.