SEC’s Revised View of Antifraud Law Survives State Street Appeal

Overview


Mark Pearlstein called the First Circuit’s fact-based reversal of SEC sanctions against his client, a former investment company executive, “the most satisfying way to win.” Mr. Flannery had maintained for five years that two letters the executive sent to clients were meant to highlight investment risk, not to minimize it as the SEC claimed. The First Circuit agreed that the SEC misread the first letter. Read the full article.