Tilton et al v. Securities and Exchange Commission
| Lynn Tilton, Patriarch Partners, LLC, Patriarch Partners VIII, LLC, Patriarch Partners XIV, LLC and Patriarch Partners XV, LLC |
| Securities and Exchange Commission |
| 1:2015cv02472 |
| April 1, 2015 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| New York |
| Ronnie Abrams |
| Other Civil Rights |
| 28 U.S.C. ยง 1391 |
| Plaintiff |
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Filing
24
OPINION & ORDER re: 10 MOTION for Preliminary Injunction . filed by Lynn Tilton, Patriarch Partners XV, LLC, Patriarch Partners, LLC, Patriarch Partners XIV, LLC, Patriarch Partners VIII, LLC. Plaintiffs contend that it is unc onstitutional - and unfair - for the Commission to subject them to an enforcement action before the Commission's own Administrative Law Judge. But that question is not for this Court to decide. Congress has carefully delineated the distinct role s of the Commission and the courts in cases such as this. It rests first with the Commission to determine whether to commence an action at all, and if so, whether to do so in federal district court or in its own administrative tribunal. Having chosen the latter, it rests with an ALJ and then the Commission to rule on Plaintiffs' claims. That decision in tum is subject to appeal to a federal court of appeals. In this Court's view, there is no basis to allow Plaintiffs to bypass this con gressionally created remedial scheme. Accordingly, this Court lacks subject matter jurisdiction over this action. Plaintiffs' motion for a preliminary injunction is denied. The Clerk of Court is respectfully requested to close this case. SO ORDERED. (As further set forth in this Order.) (Signed by Judge Ronnie Abrams on 6/30/2015) (ajs)
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