Judge Puts Hold On Schottenfeld-SEC Galleon Deal

Law360, New York (April 6, 2010, 1:00 PM EDT) -- A federal judge has put the brakes on a proposed settlement between the U.S. Securities and Exchange Commission and the Schottenfeld Group LLC in the Galleon Group insider trading litigation, despite another judge's approval last week of a separate $1.2 million deal with the firm in a related case.

Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York on Monday declined to immediately sign off on the deal, saying he needed further information before he could finally evaluate the...
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