Anyway, I thought that until I read this quote from Rajaratnam’s lawyer, Daniel Gitner: “The S.E.C. elected to offer, and Rengan elected to accept, a no admit/no deny settlement. Rengan is moving on to the next phase of his life. If the S.E.C. has further comment, so will we.” Gitner was right to make this point publicly, and it means a bit more than it would have two years ago. Since the Commission changed its policy for settled cases last year to compel admissions of liability in some of them, a case without one is a small victory, however modest, for a settling defendant….
‘Enforcement 40’ for 2020
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