Offer Of Settlement In SEC Action Waived Judicial Review, Panel Rules

Mealey's (December 24, 2019, 8:00 AM EST) -- BOSTON — A federal district court correctly ruled that a bankruptcy trustee failed to state a claim for relief in challenging a Securities and Exchange Commission settlement with an investment adviser firm for violations of federal securities law because the firm’s offer of settlement expressly waived judicial review by any court, a First Circuit U.S. Court of Appeals panel ruled Dec. 20 (Craig R. Jalbert v. U.S. Securities and Exchange Commission, No. 18-2043, 1st Cir., 2019 U.S. App. LEXIS 38036)....