Patriarch Partners founder Lynn Tilton lost her challenge to the U.S. Securities and Exchange Commission’s use of in-house judges, after arguing the process is unfair and unconstitutional.
The federal appeals court in New York agreed with the lower court that the agency can pursue its case against Tilton internally. If the fund manager were to lose, then she could appeal to the SEC and, if she lost again, to the federal court.
‘Enforcement 40’ for 2020
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