In the cage match of the securities bar, Solicitor General Paul Clement has sided with corporate interests over investors. Clement on Wednesday filed an amicus brief for defendants in a Supreme Court case that may decide whether lawyers, accountants and bankers can be sued by private investors for activities that arguably go beyond aiding and abetting corporate fraud. In an extraordinary turn of events, the case has exposed a rift between the SEC and the Bush administration and its Department of Justice.
Solicitor General Sides Against SEC in Major High Court Securities Case
The American Lawyer
August 16, 2007