Supreme Court Case Challenging SEC's Unlawful Admin. Proceedings Draws Strong Amicus Support

Washington, D.C., July 08, 2022 (GLOBE NEWSWIRE) -- Liberty-minded organizations, distinguished civil liberties activists, and prominent leaders in the business community, including Phillip Goldstein, Mark Cuban, and Nelson Obus, are among the sixteen amici curiae who have filed briefs in support of the arguments presented by the New Civil Liberties Alliance, a nonpartisan, nonprofit civil rights group, in the Supreme Court case, SEC v. Michelle Cochran . NCLA filed an opening brief last week on behalf of Michelle Cochran, a CPA from Dallas, TX, who is challenging the constitutionality of the Securities and Exchange Commission's (SEC) in-house Administrative Law Judges. Ms. Cochran requests that her case be heard before a real Article III federal court that is competent to decide the claims at issue. SEC employees play judge, jury, and prosecutor, and unsurprisingly, the agency wins the vast majority of the cases it brings through administrative proceedings. Ten briefs were filed in support of Ms. Cochran and against SEC's deeply flawed administrative proceedings. Phillip Goldstein, Mark Cuban, Nelson Obus, and Investor Choice Advocates Network filed jointly, as well as Raymond J. Lucia, Sr., George R. Jarkesy, Jr., and Christopher M. Gibson . Separate amicus briefs were presented by Americans for Prosperity Foundation , Atlantic Legal Foundation , The Cato Institute , Citizens United , The Institute for Justice , Pacific Legal Foundation , The U.S. Chamber of Commerce , and Washington Legal Foundation . NCLA's lead counsel on the case, Senior Litigator Peggy Little, successfully argued it before the en banc Fifth Circuit. Latham & Watkins partner Greg Garre, a former Solicitor General of the United States, is Counsel of Record at the U.S. Supreme Court. He will present oral argument in the case later this year. Excerpts from the ten amici curiae briefs submitted in support of NCLA follow: "The SEC inhouse prosecution scheme is indeed a Potemkin jurisdiction …—in which it acts as investigator, prosecutor, and judge of its ... Full story available on Benzinga.com