Law360, New York (July 1, 2011, 1:02 PM EDT) -- 2002 was a significant year for the United States. Our country had been thrust beyond the brink of a burgeoning war on terror, and the pillars of capitalism had been shaken in the infamous collapse of Enron Corp. and WorldCom, leaving Capitol Hill in the tumultuous wake of these weighty issues, vigorously struggling to right the ship.
In a monumental effort to correct the corporate failures of 2002 and promote corporate governance, transparency, accountability, internal controls and best practices, Sen. Paul Sarbanes and Rep. Michael Oxley co-sponsored a law sharing their name, expressly intended to protect the "innocent investor."
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