High Court Declines Review Of Jurisdictional Question In SEC Proceedings

Mealey's (March 29, 2016, 12:32 PM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court on March 28 declined to hear an appeal in a declaratory judgment suit that sought determination of whether Securities and Exchange Commission administrative law proceedings deprive federal district courts of subject matter jurisdiction (Laurie A. Bebo v. Securities and Exchange Commission, No. 15-997, U.S. Sup.; 2016 U.S. LEXIS 2225).

The SEC initiated an administrative cease-and-desist proceeding against former Assisted Living Concepts Inc. (ALC) CEO Laurie A. Bebo and former Chief Financial Officer John Buono in December 2014 for their...
To view the full article, register now.