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Professor Joseph A. Grundfest


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January 2008: 'A wave of lawsuits is beginning to wash over the troubled mortgage market....“It will be a multiring circus,” said Joseph A. Grundfest, a professor of law and business and co-director of the Rock Center for Corporate Governance at Stanford. “This particular species of litigation will be manifest in many different types of lawsuits in many different jurisdictions.”'

http://www.nytimes.com/2008/01/22/business/22legal.html

November 2006: The resulting backdating scandal has so far led to criminal charges at two companies and a paroxysm of what Stanford law professor and former SEC commissioner Joseph Grundfest calls 'Maoist-style self-criticism' at many others, with more than 40 high-level executives losing their jobs.

http://money.cnn.com/2006/11/13/magazines/fortune/options_scandals.fortune/index.htm

November 1999: '"More executives should be going to jail" said Stanford University law Professor Joseph Grundfest, a former SEC commissioner and national expert in securities fraud. "That will grab their attention . . . and hand a valuable lesson to the entire economy."'

http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/1999/11/16/MN21TUE.DTL

Relationships

RoleNameTypeLast Updated
Organization Executive (past or present) Securities and Exchange Commission (SEC) Organization Jul 27, 2006
Employee/Freelancer/Contractor (past or present) Stanford University Organization Jul 27, 2006

Articles and Resources

Date Fairness.com Resource Read it at:
Jan 22, 2008 If Everyone’s Finger-Pointing, Who’s to Blame?

QUOTE: Two questions lie at the heart of many...[recent mortgage market] cases. The first is whether lenders and investment banks alerted borrowers and investors to the risks posed by subprime loans or securities backed by them. The second is how much they were legally obliged to disclose.

 New York Times
Nov 14, 2006 Sleazy CEOs have even more options tricks: Backdating may be just the beginning: A lot of other suspicious stuff tends to happen when companies grant options.

QUOTE: even before Lie's backdating bombshell, scholars suspected that executives were using insider information for financial gain in timing options grants and news releases. Does that make backdating just the most obviously illegal tip of an iceberg of dodgy corporate behavior? And is anyone going to get in trouble for the other stuff?

 CNN/Money Magazine
Sep 07, 2006 A Board in Need of an Emily Post

QUOTE: The talk yesterday among advisers to corporate America was this: Should what happens in the boardroom stay in the boardroom?...experts argued there could be times and places when there might be some justification for nonfinancial information to be leaked to the news media, including times when the board is struggling with a strong, imperialistic chief executive.

 New York Times
Nov 16, 1999 Hollow Words: Federal prosecutors say white-collar crime is a priority, but they have filed only a few charges against Silicon Valley executives

QUOTE: ...the rising number of class-action suits shows that fraud is rampant in the high-tech industry....the U.S. attorney's office has done little to deter securities fraud in Silicon Valley, filing criminal charges against only a handful of high-tech executives the entire decade.

 San Francisco Chronicle