SEC v. Citigroup Global Markets (2d Cir. 2014)

Court Filing · U.S. Court of Appeals for the Second Circuit · June 4, 2014

Federal appeals court, June 2014: overturned Judge Jed Rakoff's 2011 refusal to approve an SEC settlement in which Citigroup admitted nothing. Judges cannot demand admissions before approving SEC settlements. 'Trials are primarily about the truth. Consent decrees are primarily about pragmatism.'

Trials are primarily about the truth. Consent decrees are primarily about pragmatism.

Official source

Federal appeals court, June 2014: overturned Judge Jed Rakoff's 2011 refusal to approve an SEC settlement in which Citigroup admitted nothing. Judges cannot demand admissions before approving SEC settlements. 'Trials are primarily about the truth. Consent decrees are primarily about pragmatism.'

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