“The commission has normally been anxious to find the true wrongdoers, the ones at the heart of the wrongdoing, not to sue the guardians, or the watchdogs, if you will.”
“It's not a mission to change the industry, but to provide education and assist directors. I don't think there's any indication that directors are doing terrible things. You worry about wanting to make sure you've done all you can to prevent things from going wrong.”
“It's highly unusual for the SEC to be bringing an action against an outside director, and I would think it would represent a change in SEC policy if they did that.”
