Jed Rakoff

  • SEC says judge committed legal error in Citigroup ruling

    The Securities and Exchange Commission is on a mission. Robert Khuzami, director of the SEC’s enforcement division, yesterday announced that he’s petitioning the 2nd Circuit to review U.S. District Judge Jed Rakoff’s rejection of the SEC’s proposed $285 million settlement with Citigroup.

  • BofA to pay $315 million settlement for Merrill Lynch unit

    Unfortunately for Bank of America (BofA), the excuse of leaving its wallet in El Segundo was taken more than 20 years ago.

  • Judge orders Rajaratnam to pay $92.8 million

    It appears Mr. Rajaratnam isn’t yet done receiving the bad news. U.S. District Judge Jed Rakoff yesterday ordered the vilified inside trader to pay a record $92,805,705 penalty in a related SEC civil case. (Cue the canned cash register audio clips.)

  • Judge hinders Madoff trustee's claims against Mets owners

    Tuesday’s ruling by U.S. District Judge Jed Rakoff tossed out nine of the 11 claims of a lawsuit filed by Bernard Madoff trustee Irving Picard against the owners of the New York Mets baseball team, Fred Wilpon and Saul Katz.

  • BofA/Merrill’s mortgage-backed securities morass

    Just days after Countrywide Financial was in the news again thanks to Allstate Insurance Co.’s lawsuit against it to recoup $700 million in losses on mortgage-backed securities, a federal judge ruled that Bank of America and its Merrill Lynch unit will face a pair of similar lawsuits brought by a...

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