In the Headlines
March 18, 2015

Ex-Miami Official Seeks Supreme Court Review

The Bond Buyer

Former Miami budget director Michael Boudreaux wants the U.S. Supreme Court to grant him immunity from a Securities and Exchange Commission lawsuit. Attorney Mitchell Herr said the Supreme Court is unlikely to grant cert and hear Boudreaux’s case.

“Typically, the Supreme Court grants certiorari when there is a decisional split among the circuit courts of appeal," he said. "A split has not yet emerged because this is the first decision on the question of whether a municipal official has a qualified immunity from an SEC enforcement action for actions taken within the scope of his employment. The issue, however, is becoming increasingly important as the SEC is more frequently seeking to hold municipal issuers liable. It remains to be seen whether a split of authority between the circuits will emerge. If it does, then I would expect the Supreme Court to be amenable to taking up this issue.”

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