Remember when Lynn Tilton sued the Securities and Exchange Commission? You should, because it was just last April. In June, the private equity chief was informed she didn't get what she wanted out of the legal action (a court ruled the SEC could proceed with its fraud charges against her through "in-house administrative proceedings"). And while some other PE execs might've just just rolled over and taken the ruling, Lynn Tilton is used to getting what she wants, be it employees doing Jell-O shots off of her stomach, employees licking whipped cream off of her rack, or a naughty Santa outfit that's sold out everywhere and has to be custom-made. So now this is happening, again:
Lynn Tilton, the New York financier accused by the U.S. Securities and Exchange Commission of defrauding her investors, on Friday sued the regulator to stop it from pursuing in-house enforcement cases against her and others. The lawsuit filed in Manhattan federal court by Tilton and her firm Patriarch Partners accused the SEC of violating their constitutional rights to due process and equal protection.