In Challenging S.E.C. Settlement, a Judge in Wisconsin Cites a Court in New York

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In Challenging S.E.C. Settlement, a Judge in Wisconsin Cites a Court in New York

In Challenging S.E.C. Settlement, a Judge in Wisconsin Cites a Court in New York

One by One, judges are going to finally have enough of the ponzi’s.

To the judges who aren’t turning a blind eye… thank you.

NYT-

A federal judge in Wisconsin has challenged the Securities and Exchange Commission over a proposed settlement of fraud charges against a publicly traded company, citing as a precedent the agency’s pending case against Citigroup.

That represents a significant expansion of the impact of the Citigroup case, in which Judge Jed S. Rakoff of the Federal District Court in New York threw out a proposed settlement between the company and the S.E.C.

Judge Rakoff said he had rejected the Citigroup settlement because there were no established facts on which to base a decision whether the settlement was “fair, reasonable, adequate and in the public interest.”

[NEW YORK TIMES]

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