SEC Targets Evergreen Manager For Hiding Info On CDO

Law360, New York (January 20, 2012, 3:47 PM EST) -- The U.S. Securities and Exchange Commission filed an administrative action Friday against a former Evergreen Investment Management Co. LLC portfolio manager for allegedly concealing information about a mortgage-backed security that caused a fund to be temporarily overvalued and ultimately liquidated.

The agency accuses Lisa B. Premo of hiding knowledge of an event of default in a collateralized debt obligation from Evergreen's board, which later was forced to make a substantial reduction in the fund's share price and eventually liquidate it at a loss to investors....
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