Are Investors Listening When Politicians Speak? Assessing the Securities Fraud Liability of Political Officials Who Manage Large Civic Works Projects
Author: Jeffrey S. Huang.
Source: Volume 26, Number 01, Spring 2005 , pp.27-52(26)
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Abstract:
In recent years, the SEC has aggressively pursued securities fraud actions against local government officials and political figures in charge of large public works projects issuing municipal bonds to finance such projects. This article argues that because the liability of a political official differs in a number of important respects from that of a corporate officer, the threat of criminal liability for securities fraud in these cases may not be substantial.Keywords:
Affiliations:
1: McDermott Will & Emery LLP.