Broker Loses Bid For Reconsideration In Fraud Case

Law360, New York (April 15, 2009, 12:00 AM EDT) -- A federal judge has rejected a bid for reconsideration filed by Rhino Advisors Inc. stock broker Andreas Badian, who the U.S. Securities and Exchange Commission accused of trying to ruin a software company by engaging in short-selling fraud.

Saying Badian's motion for reconsideration was “without merit,” district Judge Laura Taylor Swain on Tuesday rejected his challenge to an August opinion denying motions for dismissal and for summary judgment insofar as those motions related to him.

The SEC lawsuit, filed in April 2006, accuses Badian of collaborating...
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