Defended Hedge Fund Manager in SEC Enforcement Action and Filed First Suit Against SEC for Facial Constitutional Violations
- Defended hedge fund manager in SEC investigation for advisor fraud for alleged misstatements to investors and misapplication of investor funds after the fund collapsed in wake of 2008 financial meltdown; after Commission elected to pursue enforcement action in administrative proceeding instead of federal court, filed lawsuit against SEC in Washington federal court to enjoin the proceeding on grounds SEC’s enhanced administrative enforcement powers under Dodd-Frank unconstitutional. Argued first case in the nation presenting constitutional challenges to SEC action under Dodd-Frank to a federal circuit court.
Result: Presented oral argument in constitutional case of first impression before D.C. Circuit Court of Appeals to invalidate SEC's Dodd-Frank powers as violation of Seventh Amendment, Separation of Powers, and Due Process; decision pending.