Kramer Levin Receives M&A Advisor’s Corporate and Strategic Deal of the Year
New SEC Guidance on Five-Business-Day Tender Offers and Exchange Offers
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Litigation Partner Gary Naftalis was quoted in a January 5, 2006 Washington Post article on new SEC guidelines that will help companies determine how harsh actions against them will be in accounting fraud cases. The guidelines put forth that the companies that benefit directly from widespread accounting fraud will be issued stiff financial penalties. Naftalis is quoted as saying that the guidelines show that the SEC realizes that penalties against companies are not always appropriate, as they sometimes hurt investors.