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Unformatted text preview: money-hungry lawyers and investors to exploit third parties for financial gain? Though Scientific-Atlanta and Motorola Inc. did facilitate Charter’s accounting fraud—albeit indirectly —it does not seem necessary to grant shareholders the ability to sue third parties accused of aiding a U.S. corporation that defrauds its investors. Yes, Scientific-Atlanta and Motorola do deserve to be financially reprimanded for their duplicity, especially since the Securities Exchange Commission has already reached a settlement with Scientific-Atlanta and Motorola of $20 million and $25 million for similar questionable transactions they made with another cable company. However, the SEC already has the power hold third parties accountable—the Supreme Court should pressure the SEC to do its job or tell the court system to prepare itself for the approaching deluge of securities-litigation....
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This note was uploaded on 02/14/2008 for the course D SOC 111 taught by Professor Peine,emelie during the Spring '08 term at Cornell.
- Spring '08