The soap opera continues. On Monday, the US Supreme Court denied certiorari to a constitutional challenge about how the SEC uses its administrative law judges for enforcement cases (the Bebo case involved Article II’s Appointment clause). Some lower courts had issued preliminary injunctions while SCOTUS was presented with the opportunity to rule on this case. I guess Mark Cuban’s amicus curiae brief wasn’t persuasive. The SEC still has outstanding proposed changes from last September about its ALJ framework – so I imagine those changes will now move forward.
One member wrote in: “This is a very good decision for investors and the SEC. This issue is simply one of venue chasing. Both the plaintiff & defense bar have chased around trying to find the most favorable venues in the past, without any regard for justice. Why would someone think the SEC should be precluded from doing the same?” What are your thoughts – weigh in via the poll below…
Transcript: “Rural/Metro – Aiding & Abetting Breach Claims Now”
We have posted the transcript to our recent DealLawyers.com webcast: “Rural/Metro: Aiding & Abetting Breach Claims Now.”
Poll: Is It Fair That The SEC Uses ALJs?
You can weigh in anonymously about the SEC’s ALJ controversy in this poll:
– Broc Romanek