Pond Gets Claim Trimmed From SEC Fraud Suit

Law360, New York (November 22, 2010, 8:57 PM EST) -- A federal judge has granted Pond Securities Corp.'s bid to escape part of a U.S. Securities and Exchange Commission case against stock broker Andreas Badian, who stands accused of trying to ruin a software company by engaging in short-selling fraud with the help of Pond employees.

Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York ruled Friday that Pond could not be granted summary judgment on the SEC's claim that the company failed to assign a supervisor to review...
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