In an article published in The Legal Intelligencer, Hayes Hunt, a member of Cozen O'Connor's Commercial Litigation Department, and Arthur Fritzinger, an associate in the Commercial Litigation Department, discuss the U.S. Court of Appeals for the Second Circuit’s ruling in Securities and Exchange Commission v. Citigroup Global Markets, No. 11-5227-CV L (2d Cir. Jun. 4, 2014), reversing a decision rejecting a consent judgment filed by the parties and remanding the case to the district court. In its opinion, the Second Circuit provided significant guidance to federal courts and litigants, and reaffirmed the broad discretion afforded to federal agencies in settling regulatory claims.
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