Joel I. Greenberg Commented on ''Big Boy'' Letters in Compliance Week
Joel I. Greenberg, co-chair of the Corporate & Finance Department, was featured in the article titled "SEC Whittles Big Boy Letters Down to Size," which appeared in the January 23, 2008 issue of Compliance Week. The article discussed the SEC's recent warning that so-called "big boy" letters, which waive any claims for non-disclosure one party in a deal might have against the other if the deal falls through, do not carry any weight in SEC enforcement actions. Mr. Greenberg commented on the implications of signing such letters, as well as the risk involved. Based on the SEC's recent warnings, he believes there will be a general decrease in the use of big boy letters, which was the SEC's intention.