UPDATE 1-Financier Lynn Tilton sues SEC after it charges her with fraud

April 1, 2015 3:58 PM

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NEW YORK, April 1 (Reuters) - Escalating her battle with the top U.S. securities regulator, flamboyant New York financier Lynn Tilton sued the U.S. Securities and Exchange Commission on Wednesday to stop it from pursuing a case charging her with defrauding her investors.

In a complaint filed in Manhattan federal court, Tilton and her firm Patriarch Partners LLC said the SEC violated the U.S. Constitution by bringing its case in an in-house administrative proceeding rather than in federal court.

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