Did the SEC Ruin Rakoff’s Christmas?.

The headline was for effect. No, U.S. District Judge Jed Rakoff didn’t say the SEC ruined his Christmas. He did, however, note sourly in an order Thursday that he “spent the intervening Christmas holiday” considering the SEC and Citigroup’s requests to freeze a lawsuit against the bank over allegations that it defrauded investors. But he also made a much more serious charge: That the agency misled him and the U.S. Court of Appeals for the Second Circuit in seeking to halt the lawsuit while the agency appeals Rakoff’s rejection of a $285 million settlement with the Citigroup.
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