SEC Asks District Court To Enforce Subpoenas

Law360, New York (December 11, 2007, 12:00 AM EST) -- The U.S. Securities and Exchange Commission has gone to federal court to enforce apparently unfulfilled subpoenas issued in July 2006 against 14 depositors in NewAlliance Bancshares Inc.

The subpoenas form a crucial part of the commission's investigation into allegedly fraudulent conversion surrounding NewAlliance's April 2004 initial public offering, the SEC said.

The SEC filed a motion on Dec. 6 asking the U.S. District Court for the District of Connecticut to force the depositors to show cause and to comply with the subpoenas, which require disclosure of...
To view the full article, register now.