Read the full story: National Law Journal

To bolster their conflicting arguments, each side engages in a classic battle of statutory interpretation. They turn to the dictionary for the ordinary meaning of “tangible object.” They fight over such canons of interpretation as “noscitur a sociis” and “ejusdem generis” with citations to a book by Justice Antonin Scalia and Bryan Garner. They look to the legislative history of Sarbanes-Oxley and they argue over Congress’ intent.


Yates finds support in briefs from the U.S. Chamber of Commerce, the National Association of Criminal Defense Lawyers, the Cato Institute, Pacific Legal Foundation, Cause of Action, former U.S. Rep. Michael Oxley of Ohio and 18 criminal law professors. They stress the overcriminalization issue, the lack of fair warning to Yates and others that their actions could bring criminal liability, and the canons of statutory interpretation.