U.S. Supreme Court Asked To Hear Another Challenge To SEC ALJs

(March 13, 2023, 11:15 AM EDT) -- WASHINGTON, D.C. — The U.S. Supreme Court should grant review of a divided Fifth Circuit U.S. Court of Appeals panel’s reversal of a Securities and Exchange Commission’s ruling upholding an administrative law judge’s (ALJ) finding that a hedge fund manager and the fund’s investment adviser are liable for securities fraud because the Fifth Circuit’s rulings were incorrect, “highly consequential” and call “into question longstanding practices at the SEC and many other agencies,” the SEC argues in a petition for writ of certiorari filed in the Supreme Court....