Anthony Cerminaro (publisher of the Deal Attorney blog) points to a Fried Frank article that discusses the recent SEC enforcement action against Google relating to certain of its stock option practices. The key point in the article is that "the SEC has changed its approach toward lawyers. At least in some circumstances, the agency will now charge them personally if they recommend a legal strategy that is later deemed to violate the federal securities laws." Although Google settled the matter with the SEC, the case is a reminder of the risks that inhouse counsel face when dealing with securities-related matters.
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