The financial crisis has placed the muddled state of corporate law in America under intense scrutiny. Jed Rakoff, the judge in the current insider-trading case against Rajat Gupta, a former managing director of McKinsey, has emerged as an important player in this process. The 68-year-old judge is technically on “senior status” in the federal district court, meaning he can elect to work reduced hours. But there is nothing half-hearted about Mr Rakoff’s approach. He is a powerful presence in a courtroom, and even more so in a string of recent opinions that underscore the contradictions in American regulation.
‘Enforcement 40’ for 2020
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