Court to review SEC-Citigroup settlement in September

03/20/2012 | Reuters

The 2nd Circuit Court of Appeals in New York said it will wait until September to review a judge's rejection of a proposed settlement between the Securities and Exchange Commission and Citigroup regarding mortgage securities. The court has indicated that an appeal by the SEC likely will succeed, but the delay means Judge Jed Rakoff's ruling remains law for several more months.

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