SEC Chief Urges Lawsuit Limits
From Reuters
NEW YORK —
The head of the Securities and Exchange Commission on Friday called for curbs on civil lawsuits in securities cases and said the powerful federal racketeering law should not be used to put more pressure on defendants in such cases.
“There seems to be litigation over every conceivable item. . . . The pendulum has swung too far in the direction of litigation,” Richard C. Breeden told an educational forum.
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