Protecting the Securities Markets – Comparing and Contrasting Public and Private Enforcement

Thursday, January 17, 2013 - 2 p.m. EST

The scandals of the last decade have led observers to question whether we can rely on government to police our securities markets and hold public companies and securities professionals accountable for the severe damage their misconduct inflicts on public investors.  Private securities litigation has been recognized as a "necessary supplement" to governmental efforts in achieving those goals. While regulatory agencies such as the SEC and the Department of Justice have been criticized for failing to adequately hold individuals accountable in the wake of the financial crisis, private securities litigation has recovered billions of dollars for investors.  

This webcast, held on January 17, 2013, discussed the recent performance of both government regulators and private securities plaintiffs in the wake of the credit crisis, as well as notable decisions and verdicts in certain high-profile cases.  Among other things, we discussed the SEC settlements in the Citigroup and Bank of America cases, and the role of the federal judiciary in considering such settlements.  We also explored the impact of private recoveries on our capital markets, including the historic multi-billion dollar settlement obtained on behalf of Bank of America shareholders related to its acquisition of Merrill Lynch.

Moderating the webcast was former BLB&G partner Steven Singer, and our esteemed panel of experts included:

  • Harvey L. Pitt - Chief Executive Officer, Kalorama Partners LLC and former Chairman, U.S. Securities and Exchange Commission;
  • Susanna M. Buergel - Partner, Paul, Weiss, Rifkind, Wharton & Garrison, and;
  • James D. Cox - Brainerd Currie Professor of Law, Duke University School of Law.

 Click here to view the recorded webcast.