Special Master Appointed In Reserve Fund Suit

Law360, New York (January 28, 2009, 12:00 AM EST) -- A special master has been appointed to oversee the remaining assets of the Reserve Primary Fund in a suit claiming that the manager of the fund illegally tipped investors about the mutual fund's exposure to Lehman Brothers Holdings Inc. just before the brokerage filed for bankruptcy.

In an order signed Monday in the U.S. District Court for the District of Minnesota, Judge Paul A. Magnuson appointed Thomas S. Fraser of Fredrikson & Byron PA as special master, noting that the parties had jointly recommended him....
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