The U.S. Court of Appeals for the Second Circuit on Monday upheld the U.S. Securities and Exchange Commission’s use of lifetime gag orders in civil enforcement actions, rejecting claims by a former Xerox executive that they were an unconstitutional prior restraint on free speech.

A three-judge panel of the Manhattan-based appeals court sided with the federal agency in ruling that the ex-executive, Barry Romeril, had waived his right to publicly deny the SEC’s allegations when he entered a 2003 consent decree to resolve claims that he and other Xerox officers had inflated the company’s pretax earnings by nearly $1.4 billion.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]