SEC Eyes New Trial In Suit Against Fund Manager

Law360, New York (December 13, 2012, 3:43 PM EST) -- The U.S. Securities and Exchange Commission will seek a new trial against money manager Bruce Bent after failing to convince a New York federal jury that he lied to investors to try save his company's $62.5 billion fund, the agency said Wednesday.

The SEC issued a brief notice saying it planned to file a motion requesting “judgment as a matter of law and a new trial as to certain of its claims” against Bent, his son Bruce Bent II and their company, Reserve Management Co. Inc. The...
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