Prof. Painter Quoted in Reuters

Professor Richard Painter was quoted by Reuters in a story about an important insider trading case in which U.S. District Judge Jed Rakoff expressed concern about new powers vested in the SEC under the Dodd-Frank Act of 2010. The case was brought against Rajat Gupta, a former worldwide director of McKinsey & Co, accused of passing tips to Galleon Group founder Raj Rajaratnam. Painter pointed out that the Judge's comments about Dodd-Frank were not improper unless they demonstrated prejudice against the SEC as a party to the case.