October 21, 2016
Partner John Dellaportas was quoted in the Law360 article “Tilton, SEC Prep For Unprecedented Face-Off In $200M Case.”
After more than a year, Financier Lynn Tilton is set to go on trial before an administrative law judge as the U.S. Securities and Exchange Commission charges she defrauded investors by hiding the poor performance of assets underlying three $2.5 billion. "For the last two years, everybody has been fighting purely over procedural issues, and in particular who should hear this trial, and there's been very little discussion of the actual merits of the claims," said John Dellaportas, co-chair of Kelley Drye & Warren LLP's securities litigation and enforcement practice. "Now, as of Monday, we'll hear the merits of the claims, so that should be interesting." John elaborated that "Ultimately if the SEC should prevail in this forum, I'll be very interested to see what the Second Circuit has to say about the constitutionality of administrative proceedings."
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