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Criminal Law

: Crime & Federalism

Judge Jed S. Rakoff Stands Firm: No Conspiracies in his Courtroom

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Last week Bank of America and the SEC conspired to trick Judge Jed S. Rakoff into approving a bogus settlement agreement. Today Judge Rakoff sent a message to the SEC: Stop lying to me; stop cheating the American public; stop cheating Bank of America shareholders. The Wall Street Journal is reporting:Federal District Judge Jed S. Rakoff rejected a proposed $33 million settlement of allegations by the Securities and Exchange Commission that Bank of America Corp. "materially lied" in shareholder communications about bonuses to employees of Merrill Lynch & Co.Instead, Judge Rakoff set a Feb. 1 trial date on the allegations in his New York courtroom.In an order issued Monday, Judge Rakoff acknowledged the public interest in settling disputes rather than having them go to trial...continue to full post

Full post as published by Crime & Federalism on September 14, 2009 (boomark / email).

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