Reuters – The activist hedge fund manager Joseph Stilwell sued the U.S. Securities and Exchange Commission to stop it from pursuing an imminent enforcement action against him. He also wants a declaration that the appointment of SEC administrative law judges is unconstitutional.
Stilwell, whose Stilwell Value LLC has about $200 million under management and often invests in community banks, filed his lawsuit on Wednesday [Oct. 1], less than three weeks after a Manhattan federal judge ordered him to comply with an SEC subpoena.
