The City of Rochester, New York, and its former finance director appear set in fighting SEC charges that they defrauded investors in connection with a 2019 bond offering.
Individuals, companies and firms involved the securities industry face litigation risks daily. From whistleblower lawsuits and SEC enforcement actions to Financial Industry Regulatory Authority arbitration, all types of securities litigation present risks for civil liability.
The U.S. Supreme Court signaled it may open a new avenue for companies and people to fight off complaints by the Securities and Exchange Commission and Federal Trade Commission.
In a scathing opinion, Southern District of New York Judge Ronnie Abrams recently blasted the SEC's standard demand that defendants settling with the Commission agree never to deny.