in the news
O’Melveny’s Close Comments on SEC’s Request for Stay in Deloitte Case in Main JusticeJuly 20, 2012
O’Melveny & Myers LLP partner Matthew Close was quoted in the July 19, 2012, Main Justice article “SEC Says Talks Continue With China, Seeks Stay in Deloitte Case,” which reports the US Securities and Exchange Commission asked a federal court to put on hold its litigation aimed at obtaining audit documents from the Chinese unit of Deloitte & Touche so that US and Chinese regulators can continue ongoing negotiations over an agreement to permit US regulatory oversight of China-based auditors of US-listed companies.
Close, a Los Angeles-based member of O’Melveny’s Securities Litigation Practice, commented, “This development is consistent with the overall effort to achieve a negotiated resolution between US and China regulators. It seems apparent that those talks are progressing and are at an important juncture.”