Prof. Painter Quoted in Wall Street Journal Article, "Pact Set in SEC-Bear Stearns Case"

Professor Richard Painter was quoted in a Wall Street Journal article on the settlement of a SEC case against two Bear Sterns hedge-fund managers who had previously been criminally charged and acquitted for securities fraud in the 2008 mortgage securities debacle. Painter observed that the failure of a criminal case should not preclude SEC enforcement and that "civil enforcement action can be an important tool to get money back for investors and bar people from the industry, in cases where the alleged fraud falls short of criminal misconduct."