Even Jed Rakoff Thinks Uber Is Acting Shady As Hell
And Jed Rakoff has seen some sh!t.
Andrew W.W. Caspersen’s Lawyers Avoid Having To Represent Him In Court
A.W.W.C. has pleaded guilty.
Jed Rakoff Doesn’t Like The Tone Of (Still) Convicted Insider Trader’s Voice
Doug Whitman is on thin ice.
Rajat Gupta’s Prison Term Just Long Enough To Maximize His Legal Expenses
That's the good news...
Appellate Court Willing to Entertain the Possibility that Citi Was Not Committing Fraud
I've had some fun these last few days proposing counterintuitive theories for why Citi might not suck as much as you probably think it does and it's nice to see others joining in the pastime, even if this sounds a little far-fetched: The district court’s logic appears to overlook the possibilities (i) that Citigroup might well not consent to settle on a basis that requires it to admit liability, (ii) that the S.E.C. might fail to win a judgment at trial, and (iii) that Citigroup perhaps did not mislead investors. That piece of rank conjecture is from the Second Circuit's opinion on an appeal* of Judge Rakoff's rejection of the settlement between the SEC and Citi over some mortgage-backed securities. Here's DealBook:
Judge Jed Up SEC's Ass Again
These days, Judge Jed Rakoff’s name creates about as much agita inside the SEC as as Bernie Madoff. If Wall Street’s cops on the beat didn’t have enough to deal with already, now Judge Jed is up their ass about a seemingly meaningless legal settlement in the Galleon insider trading case.