Either You Did or You Didn’t Break The Law, Rules Fed Judge

November 28, 2011 Citizen No comments

A federal judge in New York on Monday threw out a settlement between the Securities and Exchange Commission and Citigroup over a 2007 mortgage derivatives deal, saying that the S.E.C.s policy of settling cases by allowing a company to neither admit nor deny the agencys allegations did not satisfy the law.

Source: http://www.nytimes.com/2011/11/29/business/judge-rejects-sec-accord-with-citi.html?_r=2&hp