McGinn Smith Founder's Wife Can't Ditch Fraud Suit

Law360, New York (May 10, 2011, 1:59 PM EDT) -- The wife of a McGinn Smith & Co. Inc. founder lost her bid Monday to walk away from the U.S. Securities and Exchange Commission's New York case alleging the brokerage firm and its founders ran a $136 million securities fraud.

U.S. District Judge Gary L. Sharpe denied Lynn Smith's motion to be dismissed as a defendant and relief defendant in the case accusing her of receiving more than $1.8 million from her husband, David Smith, and his companies, finding that the agency had sufficiently alleged her...
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