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2nd Circ. Vacates Rakoff Decision Nixing SEC-Citigroup Pact

By Max Stendahl ( June 4, 2014, 10:28 AM EDT) -- The Second Circuit on Wednesday vacated U.S. District Judge Jed Rakoff's controversial 2011 decision to reject a settlement between the U.S. Securities and Exchange Commission and Citigroup Inc. in which the bank neither admitted nor denied wrongdoing, saying the judge had overstepped his authority....

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