In a ruling on Monday, U.S. District Judge Jed Rakoff said it wouldn’t be prudent to allow everyone facing SEC enforcement action to go after the regulator in court. “Here, by contrast, we have the unusual case where there is already a well-developed public record of Gupta being treated substantially disparately from 28 essentially identical defendants, with not even a hint from the SEC, even in their instant papers, as to why this should be so.” In his order, the judge said Mr. Gupta could pursue a narrower case, namely that his rights were violated under the Equal Protection Clause of the U.S. Constitution.
Read more: Ex-Goldman Director Can Pursue Case Against SEC — WSJ
