Prudential Broker Must Pay In Market Timing Case

Law360, New York (September 17, 2007, 12:00 AM EDT) -- Wrapping up another allegation from the U.S. Securities and Exchange Commission of deceptive market timing in mutual funds, a federal judge has entered a final judgment against former Prudential Securities Inc. broker Justin F. Ficken.

Judge Nathaniel M. Gorton of the U.S. District Court for the District of Massachusetts issued the judgment against Ficken on Thursday, ordering the former Prudential representative to pay $589,854 in disgorgement and pre-judgment interest.

In his order, the judge noted that Ficken must pay his obligation within 10 days of entry...
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