With expert legal team in tow, Factor goes after Sarb-Ox

04/3/2006 | Bloomberg

Mallory Factor of the eponymous merchant-banking firm has brought on Kenneth Starr and a team of high-profile lawyers in a lawsuit, backed by the Free Enterprise Fund, that he hopes will abolish the Sarbanes-Oxley Act. Factor, who believes the cost of compliance is too high, is basing his suit on the constitutionality of the Public Company Accounting Oversight Board, which he claims is illegal because it is appointed by the SEC and not the president.

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