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News Releases
2009 SEC Settlements Decline for Second Consecutive Year
7 December 2009/New York -- The number of Securities and Exchange
Commission settlements declined for the second consecutive fiscal year in 2009,
with 626 defendants, compared to 673 in FY 2008, according to NERA Economic Consulting's
fiscal year-end SEC Settlements Trends report, released today.
The 2009 fiscal year-end figures represent the lowest annual number of settling defendants since the Sarbanes-Oxley Act ("SOX") was implemented in 2002...
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SEC Settlements Surge in First Quarter 2009
10 April 2009/New York -- The Securities and Exchange
Commission reached 182 new settlements during the first quarter of 2009, according
to NERA Economic Consulting's first-quarter SEC Settlement Trends report released
today. The Q1 tally exceeds the 123 settlements in the fourth quarter of 2008 and
the 157 settlements in the first quarter of 2008.
Among the largest SEC settlements for the quarter were the $200 million that UBS
agreed to disgorge to settle allegations that it allowed certain US investors to
evade taxes by maintaining undisclosed accounts in foreign countries; a $177 million
disgorgement by Halliburton Co. and one of its subsidiaries...
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SEC Settlements Drop in 2008; Number of Settlements Second Lowest
Since Sox, According to NERA Report
11 February/New York -- The number of Securities and
Exchange Commission settlements decreased to 672 for 2008, according to NERA Economic
Consulting?s fourth-quarter SEC Settlement Trends report, released today. This decline
represents the second-lowest total in any full year since Sarbanes Oxley (SOX) was
implemented.
In the fourth quarter of 2008, the SEC settled with 123 defendants, as compared
to an average of 185 defendants over the first three quarters in 2008. While the
rate of settlements may have decreased, settlement values in Q4 rose due to a number
of large payments; the allegations in the largest settlements in Q4 include bribery
of foreign officials and Ponzi schemes...
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SEC Settlements Are Projected to Reach Three-Year High in 2008,
According to NERA Economic Consulting
10 November 2008/New York -- NERA Study and Additional
SEC Settlements and Shareholder Trends and Data Available on New Website:
www.SecuritiesLitigationTrends.com Securities and
Exchange Commission (SEC) enforcement action settlements are projected to reach
a three-year high in 2008, continuing a dynamic period of SEC enforcement since
the enactment of Sarbanes-Oxley (SOX) in 2002, according to a new study released
today by NERA Economic Consulting.
Securities and Exchange Commission (SEC) enforcement action settlements are projected
to reach a three-year high in 2008, continuing a dynamic period of SEC enforcement
since the enactment of Sarbanes-Oxley (SOX) in 2002, according to a new study released
today by NERA Economic Consulting...
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About NERA
NERA Economic Consulting (www.nera.com)
is an international firm of economists who understand how markets work. We provide
economic analysis and advice to corporations, governments, law firms, regulatory
agencies, trade associations, and international agencies. Our global team of more
than 600 professionals operates in over 20 offices across North America, Europe,
and Asia Pacific.
NERA provides practical economic advice related to highly complex business and legal
issues arising from competition, regulation, public policy, strategy, finance, and
litigation. Founded in 1961 as National Economic Research Associates, our more than
45 years of experience creating strategies, studies, reports, expert testimony,
and policy recommendations reflects our specialization in industrial and financial
economics. Because of our commitment to deliver unbiased findings, we are widely
recognized for our independence. Our clients come to us expecting integrity and
the unvarnished truth.
Media Contact
Benjamin Seggerson
Public Relations Manager
+1-202-466-9232
ben.seggerson@nera.com
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