description Jed S. Rakoff Overview
U.S. District Judge (S.D.N.Y.) known for rejecting SEC settlements as inadequate and presiding over prominent Wall Street financial fraud prosecutions.
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Jed S. Rakoff ranks #45 of 270 in the Judge ranking, behind Alton Brown, ahead of Robert French.
Highly visible district judge praised for independence and securities-law scrutiny; some reversals and activism concerns temper acclaim.
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What federal court does Judge Jed S. Rakoff serve on?
Judge Jed S. Rakoff serves as a senior United States District Judge for the Southern District of New York (S.D.N.Y.). He was appointed to the federal bench in the mid-1990s and took senior status in 2010 while continuing to hear cases.
Why did Judge Rakoff reject the SEC settlement with Citigroup?
In 2011, Judge Rakoff made headlines by rejecting a proposed $285 million settlement between the SEC and Citigroup over mortgage-backed securities fraud. He ruled that the settlement was neither fair, reasonable, nor in the public interest because Citigroup was not required to admit or deny wrongdoing.
What types of cases is Judge Rakoff best known for presiding over?
Judge Rakoff is widely known for presiding over major Wall Street financial fraud prosecutions, including insider trading cases and SEC enforcement actions. His reputation for rigorously scrutinizing government settlements has made him one of the most closely watched federal judges in white-collar criminal law.
Has Judge Rakoff taken senior status?
Yes, Judge Rakoff assumed senior status on the Southern District of New York, a form of semi-retirement that allows him to continue hearing cases with a reduced docket. He remains an active voice on federal judicial procedure and white-collar criminal justice issues.
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