Judge Cedarbaum, who joined the Southern District bench in 1986, passed away Friday. For more, see coverage in the New York Times and New York Law Journal.
Judge Cedarbaum
Judge Cedarbaum Refuses to Allow Art Gallery to Rescind Purchase of Forgery Because it Failed to Investigate Before Purchase
By Charles Michael on
SEC Dismisses Fraud Action Against CDO Manager With Prejudice
By Laurie Edelstein on
The SEC has walked away from its fraud case against Edward Steffelin, a financial adviser who helped J.P. Morgan structure a CDO deal. On Friday, Judge Miriam Cedarbaum approved the SEC’s decision to dismiss the case with prejudice. The SEC had alleged that Steffelin knew that a hedge fund had helped select the assets for the CDO and then bet against the CDO and that Steffelin had failed to make sure that the hedge fund’s involvement was disclosed to investors. Steffelin was the first individual in a case arising out of the financial crisis who was charged by the SEC with only negligence under the securities laws, instead of intentional fraud.
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Judge Cedarbaum Dismisses Class Action Against Goldman Because Bonds At Issue Have Never Missed a Payment
By Charles Michael on