How To Level The Playing Field In SEC Civil Actions

Law360, New York (January 8, 2013, 12:34 PM EST) -- In a noteworthy decision for those litigating against the U.S. Securities and Exchange Commission, a district court in Kansas recently ordered the agency to search its files and produce certain nonpublic, internal documents on the ground that such documents were relevant to whether the defendant acted with the requisite degree of scienter, his constitutional fair notice defense, and whether the injunctive relief sought by the SEC was reasonable. The decision in SEC v. Kovzan[1] is a useful reminder of the benefits of aggressively pursuing affirmative discovery...
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