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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 sanctioned..."

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