12.7.2009 According to the National Economic Research Associates (NERA) fiscal year-end SEC Settlements Trends report, the number of SEC settlements declined for the second consecutive fiscal year in 2009, with 626 defendants, compared to 673 in fiscal year 2008. The report’s authors—Consultant Jan Larsen, Senior Vice President Dr. Elaine Buckberg, and Special Consultant Dr. Baruch Lev—note that the 2009 fiscal year-end figures represent the lowest annual number of settling defendants since the Sarbanes-Oxley Act was implemented in 2002.

Click http://www.nera.com/Publication.asp?p_ID=4003 to access the release. Click http://www.nera.com/image/PUB_Settlements_Update_Q3_1209.pdf to access the report.