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Breakingviews: SEC sucker punch

Friday, Dec 20, 2013 - 02:59

Dec. 23 - Halliburton’s looming Supreme Court case against a shareholder class action could undermine the watchdog's policing efforts. Breakingviews editors discuss whether there's a silver lining.

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That is not the SEC is about to get a sucker punch next year. From how about legal services company is taking Supreme Court. A takes all about how to look at -- -- -- -- ran out legal experts -- it what is this case about why is it gets to see you basically have two entities that make sure that the companies are released punish companies when Nightline -- the SEC and you have private shareholders right and they both work and it and it -- private shareholders are very effective those lawsuits they tend to recover. A lot more money into analyst executives more than SEC investigations. But the tricky because if you're gonna soups our company for lying about only have to prove that they lied. But I have to prove that they relied that you rely as a -- with a channel relied on Nightline. Very tricky when dealing with a market you know could be out of shareholders and -- it was a Supreme Court back in a couple of decades ago some book. We're gonna make an assumption here we're gonna assume that the market is efficient and all information reflected in the stock price including. Law so -- know it's fair to -- Anyone who buys himself a sock sock is relying on the -- so how good has come out of certain -- -- that's what I have this crazy. They've been -- they receive about a decade knows what we don't think that makes any sense we think it's the total fiction and appeared in accepted. We want the opportunity opportunity to prove that what we said. Didn't even affect the stock. Right they have a Supreme Court that's probably going to be pretty favorable yet they -- I find it pretty -- Company and a class actions -- you know they've tended to be pro company sold out that that Halliburton could very well -- -- so the sucker punch -- to -- kind of and sitting. Not the SEC defense from saying that it's the shareholder Woolsey is yet. Yeah that you say that there is media silverlight -- -- today congresses as bill that would increase by about ten fold. The fines and penalties that the SEC could. Opposed by some companies and -- deposit companies and individuals who ought to affirmative. Misrepresentations. You know. Don't know what the chances that passing arm but I mean to thicken up the -- yet he can you know take up some of the slightest if it passes -- pick up enough sly Angie thing go is it going to be sort of -- -- I mean come on the SEC I mean there are overworked you know they lost a lot of trials. They have a new chairman of the commission Mary Jo White who's -- who may bring some improvement you know but they're not gonna pick up the slide that. Plaintiffs' lawyers the lawyers who represent shareholders are nothing if not sore right. And make himself find ways that it wiggle room in one way they might do what it's like okay. You do lie but you omitted the truth and an -- under the law you can't rely on -- -- easily get around at that would. So many things play out the -- you know if if if Halliburton wins. That's a process a final season you pretty big thing for the SEC. Yeah but help grandma. Thanks very much of that -- -- vaccine more breaking news.

Breakingviews: SEC sucker punch

Friday, Dec 20, 2013 - 02:59

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