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SEC Asks District Court To Enforce Subpoenas

Law360 (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...
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