2nd Circ. Denies Ex-Xerox Exec's Bid To Toss SEC Gag Order

By Dean Seal (September 27, 2021, 8:05 PM EDT) -- The Second Circuit said in a published opinion Monday that it could find no legal error or due process violation in an 18-year-old gag order from a former Xerox executive's settlement with the U.S. Securities and Exchange Commission.

An appellate panel denied former Xerox Chief Financial Officer Barry D. Romeril's motion to invalidate the provision of an SEC settlement that barred him from publicly denying allegations that he and other top Xerox executives manipulated the company's earnings reports between 1997 and 2000.

Romeril settled with the agency in 2003, but filed a motion in 2019 arguing that the gag order violated...

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