Baseball Crank
Covering the Front and Back Pages of the Newspaper
December 12, 2002
POLITICS/LAW: Just What Bush Needs

Questions about his new pick for SEC chairman. Of course, virtually anybody who's been a corporate CEO has been named in a class-action lawsuit, and believe you me, the fact that such a lawsuit is filed - by itself - is absolutely no reason to believe that there has been wrongdoing. I didn't have a high opinion of securities class actions when I was in law school, but after practicing in this area for more than six years, I've often been shocked at how little merit is behind many claims.

Of course, pointed questions about the issue are perfectly fair game; we don't need any unpleasant surprises. And I'm not, myself, familiar with the lawsuit in question. But the favorable quote from Chuck Schumer in this story seems to support the idea that Donaldson is not really in any trouble at this point.

Posted by Baseball Crank at 7:10 AM | Law 2002-04 • | Politics 2002-03 | Comments (0) | TrackBack (0)
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