SEC Denied New Trial In Fund Manager Case

Law360, New York (September 30, 2013, 6:17 PM EDT) -- A federal judge on Monday refused a U.S. Securities and Exchange Commission request for a new trial against money manager Bruce Bent Sr., who was accused of lying to investors to save a $62.5 billion fund.

U.S. District Judge Paul G. Gardephe said the commission waived its right to seek a new trial against Bent and others by not complaining immediately after a jury cleared him in November. 

The SEC claimed in a lawsuit that Bent and his son Bruce Bent II lied to investors by...
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