Groklaw: What Does it Take?
Apr 10, 2006, 22:30 (0 Talkback[s])
(Other stories by Pamela Jones)
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"I'd say the most frequent question I get asked is, 'Why doesn't
the court do something?' The second most frequent question is,
'What does it take for the SEC to do something?'
"I want you to have realistic expectations, so I found two cases
that answer those questions. As you will see, it has to be pretty
bad indeed, and as far as courts are concerned, there are limits to
what it can do. Here's a recent SEC case regarding a pump and dump
scheme. And as for what it takes for a court to act and what
happens to you if you game the court and the court decides to do
something about it, what happens is your case is thrown out with
prejudice. Here's an order in just one of many cases involving a
plaintiff by the name of Leo Stoller, where he is