Published on June 28, 2012 | by LawNews
Prof. Ronald Colombo: Hats Off to SEC for Increasing Individual Settlements
Besides increasing the number of settlements with individuals, the SEC also boosted the average dollar value of those settlements in the first half of the fiscal year, according to NERA’s report. With the help of a $93 million settlement with imprisoned former hedge fund manager Raj Rajaratnam, the agency pushed the median value of settlements to $190,000, the third year in a row the figure rose.
“Hats off to the SEC. That’s a good report card,” said Ronald Colombo, a securities law professor at Hofstra University. “Not only are there more settlements, but they’re bringing in larger fines. You can’t say they’re going after easy settlements. You have to chalk this up to more aggressive enforcement of the securities laws. It shows if you look under enough rocks, you’re going to find more roaches.”
Read the full article on law360.com.