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Mike Osnato Quoted in The Wall Street Journal on Recent Supreme Court SEC Decision
06.16.17
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Litigation Partner Mike Osnato was quoted in The Wall Street Journal, in an article titled, “Private-Equity Firms Stand to Benefit From Supreme Court’s Curb on SEC.” The article discusses a recent unanimous Supreme Court decision, which ruled that the SEC only has five years to order firms to give back profits after a fraud occurs. Because of the decision in Kokesh v. SEC, financial sanctions in any future settlement could be much lower than past ones. The change in leadership at the SEC could also affect future enforcement efforts against private equity firms. Michael noted “because the commission composition has changed, there will be less receptivity to these kinds of cases,” adding that the SEC could come to the conclusion that prior enforcement cases accomplished the goal of improving disclosure of fees.
To read the full article, please click here (subscription required).