Not pension officials, to be sure, but we here at Forbes have documented a pervasive culture of pay-to-play in the securities class-action bar, in which lawyers wine and dine union and government pension officials to get in on obscenely lucrative business of settling securities lawsuits.
Not to be outdone, the U.S. Securities and Exchange Commission proposed a rule that would bar all but the wealthiest 1.3% of households from investing in these demon vehicles.
Pitt was a founding trustee and the first president of the SEC Historical Society and participated in a wide variety of bar and continuing legal education activities to further public consideration of significant corporate and securities law issues.