Here it is:
Having taken aim at the SEC, Rakoff has now turns a bazooka toward its lawyers and Citi's lawyers, too, accusing all (but more so the SEC) of "seemingly...materially misleading" statements to him and to the Circuit.
The words "seemingly" and "appears" in the opinion softens it (but not by much). Still, maybe what I should say is that Rakoff has taken aim at the lawyers but has not pulled the trigger (yet).
"Seemingly" may also explain why the court's order ("sanction" won't do here) is simply to keep the lower court informed of whatever papers are filed with the higher court.
Beyond warning the lawyers, the important goal of Rakoff's opinion is to tell the Circuit his side of the story because, as he notes, the parties are in accord before the Circuit. No one is up there to correct omissions or misstatements. Rakoff, who will now be on notice of all filings, stands ready to do that with supplemental orders.