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"I would be very surprised if the SEC decided to appeal," Atkins said.
SEC spokesman Michael Gonzales declined to comment on Atkins' remarks. After the court reached its decision, SEC Chairman Christopher Cox said he would ask his staff to consider alternative measures.
"There is no basis for an appeal," said hedge fund manager Philip Goldstein, who brought the successful lawsuit against the SEC. "What the SEC has spent on this exercise in illegal rulemaking is enormous. Why throw more money at it?"