PE Adviser Tilton Lobs Latest Suit Over SEC In-House Courts
Law360, New York (April 1, 2015, 1:12 PM EDT) -- Private equity adviser Lynn Tilton on Wednesday became the latest respondent to a U.S. Securities and Exchange Commission enforcement action to challenge the constitutionality of its in-house court, when she sued the agency just two days after it accused her of defrauding investors in her distressed-debt funds.
Tilton’s complaint, filed in New York federal court seeking injunctive relief from the SEC’s administrative proceeding, mirrors other claims made against the agency in recent months over its choices to litigate claims within its administrative court rather than bring them to district court.
As in these other cases, Tilton and her Patriarch Partners investment...
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