Mary Jo White | |
---|---|
31st Chair of the U.S. Securities and Exchange Commission | |
In office April 10, 2013 –January 20, 2017 | |
President | Barack Obama |
Preceded by | Elisse B. Walter |
Succeeded by | Michael Piwowar (Acting) |
United States Attorney for the Southern District of New York | |
In office June 1993 –January 7,2002 | |
President | Bill Clinton George W. Bush |
Preceded by | Otto G. Obermaier |
Succeeded by | James Comey |
Acting United States Attorney for the Eastern District of New York | |
In office December 1992 –June 1993 | |
President | George H. W. Bush Bill Clinton |
Preceded by | Andrew J. Maloney |
Succeeded by | Zachary W. Carter |
Personal details | |
Born | Kansas City,Missouri,U.S. | December 27,1947
Political party | Independent [1] |
Spouse | John White |
Education | College of William &Mary (BA) The New School (MA) Columbia University (JD) |
Mary Jo White (born December 27,1947) is an American attorney who served as the 31st chair of the Securities and Exchange Commission (SEC) from 2013 to 2017. She was the first woman to be the United States Attorney for the Southern District of New York,serving from 1993 to 2002. [2] On January 24,2013,President Barack Obama nominated White to replace Elisse B. Walter as Chair of the U.S. Securities and Exchange Commission. [3] She was confirmed by the Senate on April 8,2013,and was sworn into office on April 10,2013. [4] [5] In 2014,she was listed as the 73rd most powerful woman in the world by Forbes. [6]
On November 14,2016,White announced she would step down from her SEC position at the end of the president's term. [7] In her subsequent return to private practice she represented criminal defendants including Les Wexner,an associate of Jeffrey Epstein, [8] and the Sackler family,owners of opioid manufacturer Purdue Pharma. [9] She is now the Senior Chair at Debevoise &Plimpton in New York City. [10]
White was born in Kansas City,Missouri,and grew up in McLean,Virginia. She received a Bachelor of Arts from the College of William &Mary in 1970. She earned a Master of Arts in psychology in 1971 from The New School for Social Research [11] and a Juris Doctor from Columbia Law School in 1974, [2] where she was a Writing &Research Editor of the Columbia Law Review .
White became acting United States Attorney for the Eastern District of New York in December 1992,and in March 1993 was appointed by President Bill Clinton as U.S. Attorney for the Southern District. She is noted for having led the prosecution of John Gotti and overseen those of the terrorists responsible for the 1993 World Trade Center bombing,chief among them Sheik Omar Abdel Rahman and Ramzi Yousef. [12]
After President Bill Clinton's controversial last-day presidential pardons,she was appointed by new Attorney General John Ashcroft to investigate Marc Rich's pardon. [2]
For 10 years,she was chair of the litigation department at Debevoise &Plimpton, [10] whose self-proclaimed "core practices" and expertise are focused on the success of Wall Street financial firms. [13] The Huffington Post called her "a well-respected attorney who won high-profile cases against mobsters,terrorists and financial fraudsters over the course of nearly a decade as the U.S. attorney for Manhattan". [14]
It has been asserted in Rolling Stone magazine that,among other duties at Debevoise,White has used her influence and connections to protect certain Wall Street CEOs from prosecution, [15] including a notable case involving the firing of Gary J. Aguirre for investigations into the CEO of Morgan Stanley executive John J. Mack.
In 2013,White,as a lawyer for JSTOR,an original complainant in the prosecution of Aaron Swartz,asked the lead prosecutor to drop the charges after JSTOR changed their position to oppose Swartz's prosecution because of steps Swartz had taken to appease JSTOR. [16]
When White started at the SEC in April 2013,most of the agency's enforcement cases from the 2008-2009 financial crisis were either settled or near completion,freeing up resources for other work. [17] In a shift for the agency,White announced in June 2013 the SEC would start demanding more admissions of misconduct as part of an enforcement settlement. [18] In an October 2013 speech,White announced a new SEC enforcement tactic practiced by neighborhood beat police to root out petty crime. In her speech,White cited a March 1982 Atlantic article,espousing law enforcement's "broken windows" concept that theorizes enforcing small,petty crimes—like smashed windows—can prevent bigger crimes. Focusing enforcement attention to these small crimes avoids breeding an environment of indifference to the rules,White said. [19]
During her tenure,White had to recuse herself from some of the SEC's biggest enforcement cases as a result of her prior work at Debevoise and that of her husband,John W. White,a lawyer at Cravath,Swaine &Moore. By February 2015 White had recused herself in about 50 cases setting up deadlock situations within the Commission and thus,per a report,compromised the effectiveness of the SEC. [20]
On November 14,2016,White announced that she would step down from the SEC after nearly four years service at the end of President Obama's term in January 2017. [21] She earned,in the immediate wake of her announcement,a complimentary overall review of her term as an independent regulator from the Wall Street Journal despite differences the editors had had with her. The editorial contrasted White's service to that of others "in one of history's most ideological Administrations",as it termed the Obama presidency. [22]
On June 2,2015,Senator Elizabeth Warren wrote a letter to White indicating that her "leadership of the Commission has been extremely disappointing" [23] pointing out numerous shortcomings and failures during her tenure. Warren admonished that White failed to finalize certain Dodd–Frank rules,did not curb the use of waivers for companies that violated securities laws,allowed settlements without admission of guilt,and was too frequently recused because of her husband's activities. [23] In return,White argued that the agency had been effective and that Warren had mischaracterized her statements and the accomplishments of the agency. [24] The Massachusetts senator's attack on White generated backlash from the White House,Congress,and Wall Street,with defenders calling her a tough but fair enforcer of the rules. [25]
In June 2016,at a Senate hearing,Senator Warren asked White about her projects to reduce corporate disclosures. Senator Warren then declared she was "more disappointed than ever". [26]
On October 14,2016,Senator Warren sent a formal written request to President Obama asking for the immediate dismissal of White as Chair of the SEC because of her refusal to develop public disclosure rules of political contributions made by corporations. [27]
Following her departure as Chair of the SEC,White rejoined Debevoise &Plimpton in February 2017. [28] In that same year,White was a member of a National Football League's external expert advisory panel on domestic violence,reviewing allegations against Ezekiel Elliott. He was suspended for six games in the 2017 season. [29]
In 2017,White was retained by the University of Rochester to investigate professor T. Florian Jaeger,by whom sixteen students had complained of being sexually harassed. White's firm was hired to conduct an independent investigation but proceeded without any input from the plaintiffs from the case,due to their pending litigation. [30] White's team broke confidentiality agreements with witnesses by making public names that they had promised would remain confidential. [31] Based on White's legal opinion that no laws had been broken, [32] the University of Rochester argued that the case should be dismissed. The judge,however,sided with the plaintiffs in a 58-page ruling which "repeatedly knocked down specific rebuttals from the university" including White's claims. [33] The case later settled with the plaintiffs with no-fault admitted for $9.4 million. [34]
In August 2018,White chaired the investigation related to Ohio State's football coach Urban Meyer's denials of knowing about domestic violence committed by one of his former assistant coaches,Zach Smith. [35]
In August 2019,White was retained by Les Wexner as a criminal defense attorney in matters to the investigation of Jeffrey Epstein. [8]
Throughout her career,White has represented members of the Sackler family and Purdue Pharma in litigation brought by victims of the opioid epidemic. [9] In 2006,White,along with Rudy Giuliani,pressured the Department of Justice not to pursue criminal charges against key executives in Purdue Pharma. [36] Mary Jo White’s advocacy meant that Purdue was able to aggressively continue to sell OxyContin across the United States. [36] White continued to represent Purdue Pharma after this,advocating for a settlement in bankruptcy court that would have absolved the Sackler Family of any criminal liability from their role in the opioid epidemic. [37] That settlement was overturned by the Southern District of New York in December 2021. [38]
In 2021 she was on the defense team for the SEC's case against Ripple Labs. [39]
In 2022,the National Football League confirmed that White had been hired to investigate allegations of misconduct and financial impropriety against Washington Commanders owner Dan Snyder. [40]
Jamie Shona Gorelick is an American lawyer who served as the Deputy Attorney General of the United States from 1994 to 1997,during the Clinton administration. She has been a partner at WilmerHale since 2003 and has served on the board of directors of Amazon since February 2012.
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Alice Stevens Fisher is an American lawyer and partner at the Washington,D.C. office of Latham &Watkins LLP. Fisher served as Deputy United States Assistant Attorney General for the Criminal Division from 2001 to 2003 and as an Assistant Attorney General in the Department of Justice Criminal Division for three years,from 2005 to May 23,2008.
Debevoise &Plimpton LLP is an international law firm headquartered in New York City. Founded in 1931 by Eli Whitney Debevoise and William Stevenson,the firm was originally named “Debevoise,Plimpton &McLean”. Debevoise specializes in private equity,financial services transactions,private funds,and international arbitration. In 2021,the firm assisted the Democratic Party in the second impeachment trial of Donald Trump.
Purdue Pharma L.P.,formerly the Purdue Frederick Company (1892–2019),was an American privately held pharmaceutical company founded by John Purdue Gray. It was sold to Arthur,Mortimer,and Raymond Sackler in 1952,and then owned principally by the Sackler family and their descendants.
Raymond Sackler was an American physician and businessman. He acquired Purdue Pharma together with his brothers Arthur M. Sackler and Mortimer Sackler. Purdue Pharma is the developer of OxyContin,the drug at the center of the opioid epidemic in the United States.
John Leslie Brownlee is an American lawyer. He was the United States Attorney for the Western District of Virginia from 2001 to 2008.
Elisse B. Walter was the 30th Chair of the U.S. Securities and Exchange Commission (SEC) from December 14,2012 –April 10,2013. She was appointed Chair by President Barack Obama on November 26,2012,and sworn in on December 14,2012. She was originally appointed as one of five SEC Commissioners by President George W. Bush and sworn in on July 9,2008. Under designation by President Obama,she later served as Acting Chair during January 2009. She served as a Commissioner of the SEC until August 9,2013.
Mortimer David Sackler was an American-born psychiatrist and entrepreneur who was a co-owner,with his brothers Arthur and Raymond,of Purdue Pharma. During his lifetime,Sackler's philanthropy included donations to the Metropolitan Museum of Art,the Tate Gallery,the Royal College of Art,the Louvre and Berlin's Jewish Museum.
Gary J. Aguirre is an American lawyer,former investigator with the United States Securities and Exchange Commission (SEC) and whistleblower.
Elizabeth Ann Sackler is a public historian,arts activist,and the daughter of Arthur M. Sackler and descendant of the Sackler family. She is the founder of the American Indian Ritual Object Repatriation Foundation and the Elizabeth A. Sackler Center for Feminist Art at the Brooklyn Museum.
Warren Neil Eggleston is an American lawyer who served as the White House Counsel under President Barack Obama. Eggleston was the fourth person to hold this post during the Obama administration.
Richard Stephen Sackler is an American billionaire businessman and physician who was the chairman and president of Purdue Pharma,a former company best known as the developer of OxyContin,whose initiation of the opioid epidemic in the United States became the subject of many lawsuits and fines,filing for bankruptcy in 2019. It has been claimed that Richard Sackler's Purdue is among "the worst drug dealers in history" and the Sackler family have been described as the "most evil family in America". The company's downfall was the subject of the 2021 Hulu series Dopesick and the 2023 Netflix series Painkiller.
Massachusetts v. Purdue is a lawsuit filed on August 14,2018,suing the Stamford,Connecticut-based company Purdue Pharma LP,which created and manufactures OxyContin,"one of the most widely used and prescribed opioid drugs on the market",and Purdue's owners,the Sacklers accusing them of "widespread fraud and deception in the marketing of opioids,and contributing to the opioid crisis,the nationwide epidemic that has killed thousands." Purdue denied the allegations.
The Sackler family is an American family who owned the pharmaceutical company Purdue Pharma and later founded Mundipharma. Purdue Pharma,and some members of the family,have faced lawsuits regarding overprescription of addictive pharmaceutical drugs,including OxyContin. Purdue Pharma has been criticized for its role in the opioid epidemic in the United States. They have been described as the "most evil family in America",and "the worst drug dealers in history".
The timeline of the opioid epidemic includes selected events related to the origins of Stamford,Connecticut-based Purdue Pharma,the Sackler family,the development and marketing of oxycodone,selected FDA activities related to the abuse and misuse of opioids,the recognition of the opioid epidemic,the social impact of the crisis,lawsuits against Purdue and the Sackler family.
The Crime of the Century is an American two-part documentary film,directed,produced,and written by Alex Gibney. The film follows the opioid epidemic in the United States,and the political operatives,government regulations and corporations that enable the abuse of opioids,particularly the Sackler family and Purdue Pharma.
Joss Sackler is a fashion designer. She is also known for her marriage to David Sackler,whose father Richard Sackler was the chairman and president of Purdue Pharma,and oversaw its manufacturing of the highly addictive opioid Oxycontin,a leading drug in the opioid epidemic.
Andrew J. Ceresney is an American lawyer at Debevoise &Plimpton and a former government official who served as director of the U.S. Securities and Exchange Commission's Division of Enforcement.
Curtis Wright IV is an American former government official known for his role in the Food and Drug Administration's approval of OxyContin for Purdue Pharma in 1995,followed by his subsequent employment by the company,which led to portrayals in films and reports in nonfiction books,magazines,and news media outlets of his alleged role as one of the key figures in the current opioid epidemic in the United States. Wright was implicated in a criminal conspiracy outlined in a 2006 United States Department of Justice review document that was first made public in Purdue Pharma's 2019 bankruptcy proceedings. Although that case was settled in a 2007 plea agreement deal,members of United States Congress have requested the full 2006 documentation from the Department of Justice with the goal of opening a new case based upon the evidence then gathered. Parts of Wright's sworn depositions in 2003 and 2018 have internal contradictions and differ from documentary evidence described the 2003–2006 U.S. Federal Government investigation into Purdue Pharma.
JSTOR's attorney, Mary Jo White—formerly the top federal prosecutor in Manhattan—had called the lead Boston prosecutor in the case and asked him to drop it, said Peters.