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Shipman & Goodwin LLPGeneral Counsel Under FireReprinted, May 2008Introduction and Statistics A wave of corporate financial failures at the beginning of this century and the subsequent response by Congress and the President touched off a new era of corporate governance in the United States. Following the passage of the Sarbanes-Oxley Act and the creation of the Corporate Fraud Task Force in 2002, both the Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) increased...

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