August 16, 2007
Chairman Dodd Expresses Dissapointment with Administration Decision to Reject SEC Position in Stoneridge CaseWashington, D.C. – Senator Chris Dodd, D-Conn., Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today reacted to the Administration’s decision to reject the recommendations of the Securities and Exchange Commission (SEC) and instead file an amicus brief with the Supreme Court on behalf of companies involved in the case of Stoneridge Investment Partners LLC v. Scientific-Atlanta, Inc., et al.
- “I’m very disappointed by the decision by the Administration to reject the recommendations of the SEC, which is the regulatory agency with expertise in protecting investors and maintaining the integrity of the financial markets. It is simply unacceptable for the Administration to advocate positions other than the well-established position of the Commission that parties who contribute to defrauding investors should be held accountable.”
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