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Mealeys

Mealey's Securities/D&O Liability - Offer Of Settlement In SEC Action Waived Judicial Review, Panel Rules

BOSTON - A federal district court correctly ruled that a bankruptcy trustee failed to state a claim for relief in challenging a Securities and Exchange Commission settlement with an investment adviser firm for violations of federal securities law because the firm's offer of settlement expressly waived judicial review by any court, a First Circuit U.S. Court of Appeals panel ruled Dec. 20 (Craig R. Jalbert v. U.S. Securities and Exchange Commission, No. 18-2043, 1st Cir., 2019 U.S. App. LEXIS 38036).
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