Vedder Thinking | News Vedder Price Successfully Advises Inland American in SEC Investigation
Vedder Price served as counsel for Inland American Real Estate Trust, Inc. (“Inland American” or the ”company”) in the successful resolution of a multi-year investigation by the Securities and Exchange Commission (SEC). On March 24, 2015, the staff of the SEC informed Inland American that the SEC had concluded its previously disclosed formal, nonpublic investigation into a range of issues. The SEC further informed Inland American that it did not intend to recommend any enforcement action against any party. As was previously disclosed by Inland American, the company cooperated fully with the SEC. Vedder Price represented Inland American, along with its former business manager and property managers, in responding to the SEC’s inquiries during the investigation.
“This decision by the SEC once again demonstrates that the system works and that honest companies benefit by full and open cooperation and disclosure,” stated Vedder Price Shareholder Junaid A. Zubairi, who acted as co-lead counsel for the Inland parties.
“We are very pleased to have guided our client during this matter and are happy that the SEC has concluded its lengthy, multi-year investigation by deciding not to bring any enforcement proceedings against any party,” commented Vedder Price Shareholder Thomas P. Cimino, Jr., who, along with Mr. Zubairi, acted as co-lead counsel for the Inland parties.