Unformatted text preview: Cutter claims that it had to pay Wiederhorn 6 million if terminate him by “without cause.” Issue: Fog Cutter was not convicted of a violation of the law. Rule: The U.S. Court of appeals for the District of Columbia circuit denied Fog Cutter’s petition for review of the SEC’s decision. The NASD was concerned with “the integrity and the public’s perception of the Nasdaq exchange” in light of Wiederhorn’s legal troubles and the Fog Cutter board’s acquiescence to his demands. The SEC “amply supported these concerns and was well within its authority to dismiss For’s” appeal. Vocabulary Cost-benefit analysis – a decision-making technique that involves weighing the costs of a given action against the benefits of the action. Ethics – moral principles and values applied to social behavior....
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- Spring '09
- Law, U.S. Securities and Exchange Commission, Fog Cutter