WSJ Finds Tough Odds Outside of Federal Courts

May 7th, 2015

The Wall Street Journal reported its individual findings of an analysis of Securities Exchange Commission (SEC) cases.  Research found that the 90 percent of firms and individuals lost their cases when the case occurred before an SEC administrative law judge.  Conversely, the SEC only won about two-thirds of cases brought before federal courts.

This trend continued into the appeals process, where a remarkable 95 percent of appeals were ruled in the SEC’s favor under an administrative law judge.  Despite the insistence of SEC representatives, including Chair Mary Jo White and Enforcement Head Andrew Ceresney, there is a clear “home-court advantage” in such proceedings.  The Wall Street Journal’s findings are valuable to firms and individuals facing SEC enforcement.

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