SEC Should Have Gone 'Chasing Waterfalls,' D.C. Judge Says
The R&B trio TLC warned against "chasing waterfalls" in the group's hit 1990s song. The U.S. Securities and Exchange Commission, a Washington judge says, took too literally that "immortal admonition." U.S District Judge James Boasberg's ruling, in a dispute over the distribution of settlement funds, features, yes, a waterfall. He instructed the agency to go talk with the IRS before presenting the plan to the court again.
This premium content is reserved for National Law Journal subscribers.
Continue reading by getting started with a subscription.
Already a subscriber? Log in now