If 2013 was a tough year in the courtroom for the U.S. Securities and Exchange Commission, 2014 is not shaping up to be much better.
In October the SEC lost a high-profile insider trading case against billionaire Mark Cuban. In December a Kansas City jury completely exonerated our client, NIC Inc. CFO Stephen Kovzan, on claims that he failed to disclose expenses incurred by the CEO as "perquisite" compensation. Later that month, the SEC lost a revenue recognition accounting fraud case in Los Angeles. January brought three additional insider trading losses in Atlanta and Chicago.
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Originally published by Corporate Counsel, February 19, 2014
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