SEC Fraud Suit Withstands Reserve Fund Assault

By Samuel Howard

Law360, New York (February 25, 2010, 4:34 PM ET) -- Turning up the heat on Reserve Management Co. Inc., a federal judge on Thursday firmly backed regulators’ claims that the company and its leadership deceived investors about the plight of its money market fund following the Lehman Brothers Holdings Inc. collapse.

Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York roundly rejected the defendants' bid for dismissal, letting stand the U.S. Securities and Exchange Commission's allegations that RMCI and its father-son chief officers, Bruce Bent Sr. and Bruce Bent...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles