Does the WSJ believe Motorola and Scientific-Atlanta didn't know why they were asked to agree to such terms, not in the normal course of business? These transactions had "badges of fraud" all over them. Why weren't these companies prosecuted under the wire and mail fraud statutes, 18 USC 1343 and 1341? Where was the Justice Department? Harvey Pitt, former SEC Chairman, filed an amicus brief in favor of the defendants.
On 9 June 1954, during the Army-McCarthy hearings, Joseph Welch said to Joe McCarthy, "Have you no sense of decency sir ... ? Have you left no sense of decency"? That a former SEC Chairman could file an amicus brief in favor of the defendants shows why we can't trust the SEC to protect investors. The 9 October WSJ also had an op-ed by Paul Atkins, a current SEC Commissioner in favor of the defendants. Amazing.