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Circuit Takes Pass On SEC Subpoena Decision

Law360 (March 30, 2007, 12:00 AM EDT) -- A district court will decide whether Securities and Exchange Commission employees must testify in a class action securities suit against former Royal Dutch Shell PLC chairman Philip Watts, a circuit court ruled Friday.

The U.S. Court of Appeals for the District of Columbia said that while the court has jurisdiction to hear appeals of SEC orders, disputes over third party subpoenas do not qualify as orders.

“As the consistent practice of courts and agencies reflects, an agency’s determination not to comply with a third-party subpoena in...
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