(April 21, 2023, 4:13 PM EDT) -- WASHINGTON, D.C. — Should the U.S. Supreme Court grant the Securities and Exchange Commission’s petition seeking review of a Fifth Circuit U.S. Court of Appeals panel’s reversal of the commission’s ruling upholding an administrative law judge’s (ALJ) finding that a hedge fund manager and the fund’s investment adviser are liable for securities fraud, it should also grant review of a cross-petition filed by manager and adviser, in which they seek a determination regarding whether a circuit court may remand an SEC final order to the commission based on any violation of law or the U.S. Constitution, the manager and adviser argue in a conditional cross-petition filed in the Supreme Court....