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On the Hill this week, hearings on arbitration, Stoneridge

Several hearings of note on Capital Hill this week.

  • Thursday, September 15, Senate Judiciary Committee, Subcommittee on Crime and Drugs, "Evaluating S. 1551: The Liability for Aiding and Abetting Securities Violations Act of 2009." S. 1551 is Sen. Arlen Specter's bill to amend the SEC Act of 1934 subject to liability in a private civil action any person that knowingly or recklessly provides substantial assistance to another person (aids and abets) in violation of that act. The Senator's goal is to restore the ability to sue third parties in securities fraud lawsuits as freely as you could before the U.S. Supreme Court's ruling in Stoneridge v. Scientific Atlanta (Supreme Court docket). Scheduled witnesses are John C. Coffee, Columbia University School of Law; Patrick J Szymanski, General Counsel, Change to Win (a group of labor unions); Tanya Solov, Director, Illinois Securities Department, of behalf of the North American Securities Administrators Association; Robert J. Giuffra, Jr., a partner in Sullivan & Cromwell LLP, NYC; and Adam C. Pritchard, University of Michigan Law School.

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Rafael Mangual
Project Manager,
Legal Policy

Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.