11th Circ. Nixes Ruling For Merchant Capital In SEC Suit

Law360, New York (September 28, 2010, 5:00 PM EDT) -- A federal appeals court has reversed a district court's decision to require no disgorgement from Merchant Capital LLC and its two principals in a U.S. Securities and Exchange Commission case alleging the company committed securities fraud through the sale of interests in registered limited liability partnerships.

A three-judge panel of the U.S. Court of Appeals for the Eleventh Circuit on Monday instructed the chief judge in the U.S. District Court for the Northern District of Georgia to reassign the case to a new judge who will...
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