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Thomas Dubbs, a senior partner specialising in securities fraud litigation at New York law firm Labaton Sucharow, sees the SEC's action as a sign of its desire to improve its image in light of such criticism."
"The action by the SEC appears to be the first step in its attempt to rehabilitate its reputation by bringing actions against high-ranking individuals," Dubbs says. He believes the charges have been designed to show the SEC as being "pro-investor following the credit crisis of 2008."
New York