“SEC to Seek Public Comment on Short Sales Restrictions”

At an Open Meeting of the U.S. Securities and Exchange Commission (“SEC”) held on April 8, 2009, the SEC voted unanimously to seek public comment on whether certain proposals aimed at curtailing short selling should be adopted.  Short selling has been blamed by many lawmakers and executives for contributing to a deepening of the financial crisis and driving down share prices.  This Stroock Special Bulletin provides a summary of the SEC proposals.