SEC Commissioner: Supreme Court can't follow SEC's lead

The Supreme Court should not follow the lead of the Securities and Exchange Commission by expanding the reach of private class-action lawsuits, SEC Commissioner Paul Atkins writes in a Wall Street Journal commentary. The court is scheduled to hear oral arguments in a case that would allow third parties to be sued in securities-fraud cases. The SEC has already voted 3-2 in favor of expanding that power. "I hope that the Court makes a better decision for our economy and for fairness in the judicial process than the SEC did," Atkins said.

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