SEC Case Against Former Gabelli Managers Trimmed

Law360, New York (March 19, 2010, 5:56 PM EDT) -- A federal judge has dismissed most of a case brought by the U.S. Securities and Exchange Commission against former Gabelli Funds LLC managers Marc J. Gabelli and Bruce Alpert for alleged late trading, though she allowed one claim for disgorgement to proceed.

Judge Deborah Batts of the U.S. District Court for the Southern District of New York ruled Thursday that the SEC's claims under the Securities Act and Securities Exchange Act were barred by the statute of limitations, and that it couldn't seek civil penalties or...
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