High Court Declines Review Of Appeal In Suit Over SEC Handling Of Ponzi Scheme

Mealey's (October 7, 2015, 1:42 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on Oct. 5 declined review of an 11th Circuit U.S. Court of Appeals ruling that the discretionary function and misrepresentation exceptions of the Federal Tort Claims Act (FTCA) barred an investor suit against the U.S. government as a jurisdictional matter (Carlos Zelaya, et al. v. United States of America, No. 15-14, U.S. Sup.).

Investors Carlos Zelaya and George Glantz, individually and as trustee of the George Glantz Revocable Trust, sued the U.S. government in the U.S. District Court for...
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