Lynn Tilton - CNBC

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Press Releases

Lynn Tilton changes lawyers as legal battles heat up

The embattled distressed investor tags in new lawyers, replacing a firm that worked on the SEC’s fraud case against her.


SEC beats new challenge to in-house judges in Atlanta federal court

The 11th U.S. Circuit Court of Appeals became the fourth federal appeals court to rule for the SEC, which critics say can benefit from pursuing enforcement cases in-house because they offer procedural advantages that can make it easier to win. In one, the SEC accused Gray Financial Group Inc and two executives of steering public pension funds to invest in...

Source: Reuters

SEC can resume case against ex-S&P executive -U.S. appeals court

The SEC was not immediately available for comment. Administrative proceedings also offer procedural advantages that can make it easier for the SEC to win. The SEC accused Duka, a former head of S&P's commercial mortgage-backed securities group, of concealing how the agency had eased its criteria for calculating some ratings in 2011..

Source: Reuters

UPDATE 3-SEC can pursue Lynn Tilton fraud case, U.S. appeals court rules

Tilton, known as the "Diva of Distressed" for turning around troubled companies, and other defendants in SEC civil cases have said federal courts should halt such proceedings. They have argued that the appointment of SEC administrative law judges, and hurdles that can make it impossible for the president to remove those judges, are unconstitutional.

Source: Reuters

UPDATE 1-U.S. appeals court lets SEC pursue Lynn Tilton fraud case

The 2-1 decision by the 2nd U.S. Circuit Court of Appeals in New York is a victory for the SEC and its practice of pursuing more fraud cases through in-house administrative proceedings rather than in federal court, and allows the regulator to resume its case against Tilton. Known as the "Diva of Distressed" for turning around troubled companies, Tilton was accused...

Source: Reuters

U.S. appeals court rejects Lynn Tilton challenge to SEC case

NEW YORK, June 1- A federal appeals court on Wednesday rejected New York financier Lynn Tilton's effort to block the U.S. Securities and Exchange Commission from pursuing its case accusing the head of Patriarch Partners of defrauding her investors.

Source: Reuters

UPDATE 1-Tilton's Patriarch Partners sued by the Zohar funds she created

April 25- Patriarch Partners, the private equity firm of flamboyant investor Lynn Tilton, is being sued for allegedly refusing to provide financial records to the new manager of the Zohar funds that she controlled until earlier this year. Filed in Delaware's Court of Chancery on Friday, the lawsuit is the latest in a series of legal challenges for Patriarch...

Source: Reuters