Overview
In a case we have covered before, a jury today cleared Citibank executive Brian Stoker of SEC charges that he helped arrange a CDO while failing to disclose Citi's role in selecting the assets and taking a short position. The jury also included an unusual note that Judge Rakoff read from the bench: "This verdict should not deter the S.E.C. from investigating the financial industry, to review current regulations and modify existing regulations as necessary." Coverage of the verdict can be found at the New York Times and Wall Street Journal, and helpful further analysis is provided by Alison Frankel at Reuters.
