In the News The Wall Street Journal

A Judge Protects Taxpayers

Kirkland served as lead counsel for Securities Investor Protection Corporation (SIPC) in a lawsuit brought by the Securities and Exchange Commission seeking to force the SIPC to cover losses associated with the $7 billion Ponzi scheme of former financier Allen Stanford.

"While Judge Wilkins noted that he was "truly sympathetic to the plight" of these victims, he also noted that the plain language of the law does not allow compensation from SIPC. This program, which collects insurance premiums from the securities industry, only covers investors in cases when assets disappear from their accounts at participating U.S. brokerages."

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This article appeared in its entirety in the July 9, 2012 edition of The Wall Street Journal.