2 Reserve Witnesses Barred From Stand In SEC Suit

Law360, New York (September 10, 2012, 10:48 PM EDT) -- A New York federal judge on Monday excluded two defense witnesses from the upcoming trial in the U.S. Securities and Exchange Commission's suit accusing Reserve Management Co. Inc. of misleading investors about the safety of its money market fund, finding their testimony was not germane and could confuse the jury.

U.S. District Judge Paul G. Gardephe had already precluded portions of reports from professors Richard Painter and Lisa Fairfax during the summary judgment phase and went further Monday, barring them from testifying in the October trial...
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