Firm Files Brief on Behalf of Former SEC Officials Urging Rehearing in Securities Case.

On September 13, 2023, the firm filed an Amicus Brief on behalf of former SEC officials urging a Second Circuit panel to rehear an important securities fraud case. The defendant auditors in the case had falsely certified that they had completed an audit in compliance with federal standards when, in fact, they had not finished the audit before issuing the results. The panel held that the representations were immaterial as a matter of law. The amicus brief argues that this conclusion is wrong, consequential, and in conflict with the consistent view of the SEC.