description Jed S. Rakoff Overview
Jed S. Rakoff is a senior United States District Judge for the Southern District of New York, appointed in 1995. He has overseen numerous prominent financial fraud and securities cases, and is known for scrutinizing SEC consent decrees, notably refusing to approve an SEC-Citigroup settlement in 2011 because it lacked an admission of wrongdoing. He previously served as a federal prosecutor and has taught at Columbia Law School.
help Jed S. Rakoff FAQ
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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