McGinn Smith Founder's Wife Must Seek Relief In 2nd Circ.

Law360, New York (August 22, 2011, 5:31 PM EDT) -- The wife of McGinn Smith & Co. Inc.’s founder was told Monday to go to the Second Circuit if she wants to challenge $1 million in sanctions imposed for allegedly hiding a trust fund from regulators in a $136 million securities fraud suit against the brokerage.

U.S. District Judge Gary Sharpe issued an order clarifying that the court lacks jurisdiction to hear appeals of the sanctions ruling because the matter had been referred to a magistrate judge. The Second Circuit, therefore, is the appropriate forum for...
To view the full article, register now.