Court Sustains SEC Late-Trading Complaint

Law360, New York (September 4, 2008, 12:00 AM EDT) -- A federal judge has rejected a dismissal bid by Simpson Capital Management Inc. and two individuals accused by the U.S. Securities and Exchange Commission of bilking mutual funds and their shareholders out of about $57 million through the placement of late trades.

Judge John G. Koeltl of the U.S. District Court for the Southern District of New York on Wednesday signed off on a 27-page opinion and order denying the September 2007 dismissal motion from Simpson Capital Management, Robert A. Simpson and John C. Dowling....
To view the full article, register now.