To the extent that Lay is making a statement of opinion, the government has to show not only that that statement was false but that he knew it to be false, ... The problem with doing that is that Lay did make some significant purchases of Enron stock and held onto all of his Enron stock except for those shares he sold pursuant to margin calls.
More Quotes from John Coffee:
I think the SEC had to get aboard this ship. Otherwise, they would look like they are lagging behind the parade. They have been somewhat embarrassed by being behind everyone on the issue of accounting reform.John Coffee
I suspect this rush to settle the civil antitrust actions and the securities class action are the product of both an approaching deal with the government involving a plea of guilty to criminal price fixing, and also the approaching shareholders meeting.
John Coffee
This is a positive, historic event.
John Coffee
It's Act 1, but I think it's been a very successful Act 1. Given what can go wrong in a trial, nothing has gone wrong so far.
John Coffee
The particular bank involved here has on prior occasions been caught in the same position as the unwitting intermediary, ... and it has been required by American courts under penalty of very large fines to identify who the inside trader was, who it acted for and that individual was criminally prosecuted.
John Coffee
Readers Who Like This Quotation Also Like:
Based on Topics: Government Quotes, Opinions QuotesBased on Keywords: pursuant
Disease and ill health are caused largely by damage at the molecular and cellular level, yet today's surgical tools are too large to deal with that kind of problem.
Ralph Merkle
You want people to feel something when you tell a story, whether they feel happy or whether they feel sad.
Harry Dean Stanton
There is a vast difference between games and play. Play is played for fun, but games are deadly serious and you do not play them to enjoy yourself.
Maurice Baring