Law360, New York (July 17, 2012, 1:41 PM ET) -- United States District Judge Paul Crotty, sitting in the Southern District of New York, has issued a ruling holding that a public company did not have a duty, upon which a federal securities fraud claim could be based, to disclose the receipt of a Wells Notice from the U.S. Securities and Exchange Commission.[1]
A Wells Notice is a notice to the recipient that the staff of the SEC’s Division of Enforcement (SEC staff) intends to recommend that the commission pursue an enforcement action against the recipient....
Implications Of Richman V. Goldman Sachs Group
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