Reserve Fund Investors Win Full Share Recovery

Law360, New York (June 11, 2010, 4:36 PM EDT) -- The federal judge overseeing securities multidistrict litigation against Reserve Management Co. Inc. has directed the company to distribute a portion of the remaining assets in the Reserve Primary Fund to investors who redeemed their shares at a value less than the share recovery of other investors.

Judge Paul G. Gardephe of the U.S. District Court for the Southern District of New York issued two orders Thursday resolving the contentions of nearly two dozen investors who argued that they were improperly subjected to the “straddler offset,” which...
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