Professor Hillman Comments on Citigroup SEC Fraud Settlement for Fox Business Report
Professor Robert Hillman commented for Fox Business Report on U.S. District Judge Jed Rakoff's order to scrutinize the U.S. Securities and Exchange Commission's settlement with Citigroup over charges the bank defrauded investors.
"Rakoff is asking the hard questions that everyone wants asked,'' Hillman said. `"He may run both sides through the ringer, as he did with Bank of America. We want to have light shined on the fairness of these settlements, and the judge is shining the flashlight.''
Professor Hillman holds the Fair Business Practices and Investor Advocacy Chair at UC Davis School of Law and is a scholar in the fields of international transactions, securities regulation, and corporate and partnership law.