SEC Chief 'Not Anxious' To Deter Post-IPO Class Actions

Law360 (February 6, 2018, 4:42 PM EST) -- U.S. Securities and Exchange Commission Chairman Jay Clayton told a Senate panel Tuesday that he is "not anxious" to see a change in policy that would let companies bar investors from filing class claims of fraud after an initial public offering.

Sen. Elizabeth Warren, D-Mass., questioned Clayton on the topic, referring to a Bloomberg report that the SEC was considering whether companies should be allowed to block investor lawsuits seeking damages after an IPO and to instead force those shareholders to settle disputes through arbitration. Warren pressed Clayton for a "straight yes or no" answer on the topic.

"I am not...

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