SEC Loses Again: Agency Judge Clears State Street Execs
Thomson Reuters
10/31/2011
In this article, "SEC Loses Again: Agency Judge Clears State Street Execs," published in Thomson Reuters News & Insight, Jack Sylvia, Co-Chair of Mintz Levin's Securities Litigation Practice Group, is quoted discussing his victory on behalf of his client, a former State Street executive. In a ruling by SEC Chief Administrative Law Judge Brenda Murray, the case against Mr. Sylvia's client, which alleged that he and his colleague knowingly mislead investors through disclosures about the underperformance of a State Street fund holding subprime mortgage-backed securities, was dismissed. The judge found that Mr. Sylvia's client was unaware of the vulnerability of the subprime securities in August 2007.
