Two weeks ago the Second Circuit Court of Appeals upended a ruling by Manhattan District Judge Jed Rakoff rejecting a U.S. Securities and Exchange Commission settlement with Citigroup Inc. based on an inadequate factual basis. To evaluate the decision in simple, Martha Stewart terms: that’s not a good thing.
Both The New York Times and Wall Street Journal touted the impact of Rakoff’s ruling on future settlements—including the SEC’s revised policy on corporate admissions. The Second Circuit...
Will Martha Stewart be able to make lemonade from lemons in her recent legal battle? Will she cook up creative ways to recycle her lawsuit into an elegant business solution? Like explaining how to remove garlic peels with ease during a recent Wait Wait Don’t Tell Me program, can she come up with graceful solution to her lawsuit? What will she say about mediation after she emerges? Will her attorney hire a trained and experienced mediator who will allow her creative juices to flow?
Judge...
