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Judge Chastises SEC for Discovery Abuses

By Michael MacPhail, Esq.

          A U.S. District Court opinion issued early this year raises questions about the SEC?s commitment to fairness and making full disclosure to defendants in litigation.  In SEC v. Collins & Aikman Corp., No. 07-2419 (S.D. N.Y. Jan. 13, 2009), 2009 U.S. Dist. LEXIS 3367, the agency charged a public company and one of its officers with engaging in fraudulent accounting.  The SEC asserted various objections in response to the officer?s discovery requests, chiefly by claiming that certain compilations of documents were protected by the work product doctrine, other documents were protected by the deliberative process privilege, and the production of e-mails sought by the defendant would be unduly burdensome...continue to full post

Full post as published by NASD, SEC and Regulatory Defense Blog on April 14, 2009 (boomark / email).