Second Circuit Rejects Judge Rakoff’s Rejection of Citigroup Settlement with SEC

Court of Appeals for the Second Circuit – In United States Securities and Exchange Commission v. Citigroup Global Markets, Nos. 11-5227-cv; 11-5375-cv; 11-5242-cv, the U.S. Court of Appeals for the Second Circuit found that the district court abused its discretion by rejecting a proposed Consent Judgment between Citigroup Global Markets (Citi) and the Securities and Exchange Commission…