{"id":154,"date":"2007-06-23T17:21:54","date_gmt":"2007-06-23T17:21:54","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/06\/this_time_its_the_feds_not_the_1"},"modified":"2021-09-20T15:41:13","modified_gmt":"2021-09-20T20:41:13","slug":"this-time-its-the-feds-not-the-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/this-time-its-the-feds-not-the-1\/","title":{"rendered":"This Time the Feds -Not the SEC- Abandoned Enron Investors"},"content":{"rendered":"

\t\t\t\tAccording to reports, the SEC asked the Justice Department’s Office of the Solicitor General to file an amicus curiae (friend of the court) brief to U.S. Supreme Court in support of the Enron investors’ position in a seminal case involving “scheme liability” under a key provision of the federal securities law.<\/p>\n

However, lawyers for the Justice Department failed to honor the SEC’s request. After the deadline for such briefs was missed, a spokesman for the U. S. Solicitor General’s Office confirmed that the brief was not filed, while declining to say “whether or when we would file something in the future.”<\/p>\n

The case, which has wound its way to the U.S. Supreme Court, was filed against Wall Street banks and brokerage firms for their alleged roles in assisting Enron to defraud its shareholders. Trial was eminent in a Houston Federal Court when a Court of Appeals in New Orleans intervened and said the Securities Exchange Act does not allow such claims. (Congress has forbid all class action claims by investors except under the federal securities laws.)<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to reports, the SEC asked the Justice Department’s Office of the Solicitor General to file an amicus curiae (friend of the court) brief to U.S. Supreme Court in support of the Enron investors’ position in a seminal case involving “scheme liability” under a key provision of the federal securities law. However, lawyers for the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3809,3801,3741],"tags":[],"class_list":["post-154","post","type-post","status-publish","format-standard","hentry","category-enron","category-sec","category-securities-fraud"],"yoast_head":"\nThis Time the Feds -Not the SEC- Abandoned Enron Investors — Investor Lawyers Blog — June 23, 2007<\/title>\n<meta name=\"description\" content=\"According to reports, the SEC asked the Justice Department's Office of the Solicitor General to file an amicus curiae (friend of the court) brief to U.S. — June 23, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/this-time-its-the-feds-not-the-1\/\" 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