Weekend Law: Archegos Founder Convicted & the Politics of SCOTUS
Jul 12, 2024
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Securities law expert James Park discusses Archegos founder's conviction. Cary Coglianese explores Supreme Court's impact on the Chevron doctrine. Anthony Michael Kreis talks about the political nature of the court.
Archigos founder Bill Huang convicted of fraud and market manipulation exposing dangers of manipulative financial practices.
Supreme Court's elimination of Chevron doctrine allows for increased judicial intervention in regulatory matters leading to potential legal uncertainty.
Deep dives
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Market Manipulation Conviction of Archigos Founder Bill Huang
Archigos founder Bill Huang was convicted of fraud and market manipulation, leading to the implosion of his family office, costing investment banks over $10 billion. The trial revealed how Huang misled banks to inflate stock prices, emphasizing the dangers of manipulative practices in the financial sector.
Prosecution's Strategy in Archigos Trial
During the trial, prosecutors presented evidence of Huang's market manipulation through recorded phone calls and testimonies from insiders, highlighting his aggressive investing tactics. The prosecution effectively educated the jury on complex financial concepts and established Huang's control over the firm's culture.
Impact of Supreme Court's Rulings on Agency Power
The Supreme Court's decisions limiting agency power indicate a shift towards increased judicial intervention in regulatory matters. The elimination of the Chevron doctrine has empowered federal judges to challenge agency interpretations, potentially leading to legal uncertainty and conflicting decisions across different jurisdictions.
Securities law expert James Park, a professor at UCLA Law School, discusses the conviction of Bill Hwang, the founder of Archegos. Administrative law expert Cary Coglianese, a professor at the University of Pennsylvania Law School, discusses the repercussions of the Supreme Court eliminating the Chevron doctrine. Constitutional law expert Anthony Michael Kreis, a professor at the Georgia State University College of Law, discusses the Supreme Court term and the political nature of the court. June Grasso hosts.