Special Master To Oversee Reserve Fund Assets

Law360, New York (January 6, 2009, 12:00 AM EST) -- The federal judge in a suit alleging that the manager of the Reserve Primary Fund illegally tipped investors about the mutual fund's exposure to Lehman Brothers Holdings Inc. just before the brokerage filed for bankruptcy has asked the parties to recommend a special master to oversee the fund's remaining assets.

In a memorandum and order signed Monday in the U.S. District Court for the District of Minnesota, Judge Paul A. Magnuson granted in part and denied in part Ameriprise Financial Inc. and Securities America Inc.'s motion...
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