With the Securities and Exchange Commission still fighting to overturn Manhattan federal district judge Jed Rakoff’s rejection of its $285 million settlement with Citigroup Inc., another federal judge is channeling Rakoff as she considers whether to approve a deal negotiated by the Federal Trade Commission.
On Wednesday, Camden district judge Renée Marie Bumb ordered the FTC and defendant Circa Direct LLC, a company that allegedly creates online weight-loss advertisements disguised as news reports, to answer a series of questions before she’ll decide to approve or reject their proposed $11.5 million settlement.
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