Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, June 21, 2007

Paulson Confirms His Involvement in Opposing Pro-Plaintiff "Scheme Liability" Position

Treasury Secretary Paulson confirmed that he personally initiated the contact with the Justice Dept. to voice opposition to filing an amicus brief in support of plaintiffs in the "scheme liability" case pending before the Supreme Court.  Testifying at a Senate Financial Services hearing, he said he was concerned about exposing to liability companies that "happened to do business" with a firm that committed securities fraud.  See WPost, Paulson Behind Opposition to Third-Party Suits.

http://lawprofessors.typepad.com/securities/2007/06/paulson-confirm.html

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