Will Shareholder Rights Be Trampled In The Rush Toward Reform?

When he headed the American Stock Exchange, Arthur Levitt Jr. slammed lawyers who filed frivolous shareholder lawsuits to force companies into exorbitant settlements. Now, as chairman of the Securities & Exchange Commission, Levitt is about to see Congress stem such abuses. So why isn't he cheering? The SEC chief frets that an overzealous GOP may weaken investor protections.

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