In an opinion Friday, Judge Abrams approved an SEC settlement, but wrote that she would “not do so silently,” because she found highly “troubling” the SEC’s standard, non-negotiable provision requiring that the defendant not make “any public statement denying, directly or indirectly, any allegation in the complaint or creating the impression that the complaint is without factual basis”:
Continue Reading Judge Abrams Harshly Criticizes SEC’s “Lifetime Gag” Settlement Requirement
Settlements
Judge Rakoff: Parties’ “Strategic Concerns” Don’t Justify Sealing Settlement Terms
By Michael Keough on
Today, Judge Rakoff rejected an attempt by the parties in the Petrobras securities litigation (see our prior coverage here) to keep parts of the settlement agreement in that case out of the public record. Judge Rakoff had previously rebuffed the parties’ request to keep parts of the settlement agreement confidential, and the parties had…