
In most appeals, the winner at the lower court level defends the decision of that court. But since both sides appealed Judge Rakoff's rejection, the Second Circuit was left with the question of who would defend his decision on appeal. Judge Rakoff himself supplied the a suggestion: he recommended that the Second Circuit appoint John R. Wing as counsel "to argue in support of the district court's position." The Second Circuit agreed, and appointed Mr. Wing to argue on the district court's behalf pro bono. If Judge Rakoff's ruling is affirmed, we may begin to see more of this procedure as District Judges reject more SEC settlements that they believe are not in the public interest.