The Sarbanes-Oxley Act
Many large corporate scandals occurred in the early 2000s, such as Enron, Adelphia, and WorldCom, all of which made news for their inaccurate and misleading financial reporting practices. These practices duped investors by making the corporations look more successful than they were, and as a result many of them, including corporate employees, lost large amounts of money because, by the time everyone knew the truth, it was too late to recover investment losses. When these scandals came to light, they shook investor confidence in the U.S. economy, which resulted in some of the worst stock market performance ever in the decade from 2000 to 2009.
Accurate information is the “investor’s best tool” so people can invest wisely ...
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