The Commission filed another strict liability, SOX 304 action, seeking to clawback certain CEO and CFO compensation. This time the defendants are Michael Baker and Michael Gluck, respectively, the CEO from 1997 through February 2009, and CFO from May 2006 …
Tag: strict liability
THE SEC CONTINUES ITS STRICT LIABILITY APPROACH TO SOX 304
The Commission continues to pursue its strict liability policy regarding the application of Section 304 of the Sarbanes Oxley Act. Under that Section the CEO and CFO can be required to repay certain incentive based compensation they receive if there …
THE SEC CONTINUES ITS STRICT LIABILITY APPROACH TO SOX 304 Read More »