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Fraud-Busting Sarbanes-Oxley Act Is Too Important To Discontinue

Publication Date: 
July 30, 2007
Source: 
Daily Journal
Author: 
Mark Labaton

The Daily Journal references Stanford Law School's Securities Class Action Clearinghouse in its piece about the importance of continuing the Sarbanes-Oxley Act:

According to the Stanford Securities Class Action Clearinghouse, although 497 cases were filed in 2001, only 116 were filed last year, and 55 have been filed so far this year, a decline partly attributable to the act, which required that public company CEOs and chief financial officers certify the accuracy of financial statements and mandated that companies adopt new audit procedures and controls to help detect and deter fraud.