2nd Circ. To Weigh Rakoff's Block Of Citi-SEC Deal In Sept.

Law360, New York (March 19, 2012, 8:46 PM EDT) -- The Second Circuit said Monday it would wait until the last two weeks of September to hear the U.S. Securities and Exchange Commission and Citigroup Inc.’s appeal of a New York judge’s decision to reject their $285 million mortgage-backed securities settlement.

The appeals court issued a one-page order scheduling oral arguments in the case and asking the SEC and Citigroup to each file a brief in support of the settlement by May 14. The court set an Aug. 13 deadline for an opposition brief by Lankler...
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