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Browse: Home / 2011 / November / 29 / Khuzami: Rakoff Ruling Ignores Decades of Established Practice

Khuzami: Rakoff Ruling Ignores Decades of Established Practice

By Securities Docket on November 29, 2011, 4:11 pm

The courts criticism that the settlement does not require an admission to wrongful conduct disregards the fact that obtaining disgorgement, monetary penalties, and mandatory business reforms may significantly outweigh the absence of an admission when that relief is obtained promptly and without the risks, delay, and resources required at trial. It also ignores decades of established practice throughout federal agencies and decisions of the federal courts. Refusing an otherwise advantageous settlement solely because of the absence of an admission also would divert resources away from the investigation of other frauds and the recovery of losses suffered by other investors not before the court.

Read more: Khuzami: Rakoff Ruling Ignores Decades of Established Practice — WSJ Law Blog

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Posted in SEC, Top | Tagged Settlements

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