The Untold Story Of Why Judge Rakoff Rejected The Citi Settlement

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November, 2011

How many times have you read about a settlement between the government and a corporation or individual which reads something like this:

“Corporation X agrees to pay a $X million fine to settle the allegations without admitting nor denying any wrongdoing.”

It always seems like the government is just going for the quick win and in the meantime they get to pick up some cash for the general purposes fund. To be fair, the government doesn’t have the resources to fight every case and in the ones that seem more difficult, they

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