Recent Posts

New York Federal Judge Rejects Settlement Of Citigroup Market Crisis Case
Posted on 1 Dec 2011 by Thomas O. Gorman

"But the S.E.C., of all agencies, has a duty, inherent in its statutory mission, to see that the truth emerges; and if it fails to do so, the Court must not, in the name of deference or convenience, grant judicial enforcement to the agency's... Read More

2nd Circuit Rejects Judge Rakoff's Reasoning In Denying Citigroup Settlement
Posted on 16 Mar 2012 by Kevin M. LaCroix

In a sharply worded March 15, 2012 per curiam opinion ( here ), a three-judge panel of the Second Circuit granted the motions of Citigroup and the SEC to stay district court proceedings in the SEC's enforcement action against the company, so that... Read More

Judge's Rejection Of Citigroup Settlement Suggests How SEC Might Salvage Situation
Posted on 1 Dec 2011 by Kevin M. LaCroix

In a strongly worded November 28, 2011 opinion ( here ), Southern District of New York Judge Jed Rakoff rejected the proposed $285 million settlement of the enforcement action that the SEC brought against Citigroup Capital Markets. But while he emphatically... Read More

The Week in Securities Litigation: SEC Issues Record Number Of Trading Suspensions
Posted on 18 May 2012 by Thomas O. Gorman

The Commission issued a record number of trading suspensions for one day this week as part of an on-going effort to prevent microcap manipulations. A House Committee heard testimony from the Director of the Enforcement Division on its long standing policy... Read More