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The Sarbanes-oxley Debacle ― What We've Learned; How to Fix It
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The Sarbanes-oxley Debacle ― What We've Learned; How to Fix It

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According to Butler (economics, Chapman U.) and Ribstein (law, U. of Illinois), the Sarbanes-Oxley Act of 2002 has the potential for turning into a "litigation time-bomb." In this text, they suggest some major changes to the Act that are aimed at minimizing the costs of compliance--costs that get passed on to the ordinary investors it is designed to protect. Some of their proposals include prohibiting private lawsuits, exempting all but the largest corporations, and removing criminal penalties. Annotation c2006 Book News, Inc., Portland, OR (booknews.com)

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Henry N. Butler is the James Farley Professor of Economics, Argyros School of Business and Economics, Chapman University. Larry E. Ribstein is the Richard and Marie Corman Professor of Law, University of Illinois College of Law.

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