Judge Approves SEC, Pension Fund Settlement

Law360, New York (June 8, 2007, 12:00 AM EDT) -- A judge has finalized a settlement that forces two Florida financiers to surrender their homes, putting an end to a long-running U.S. Securities and Exchange Commission investigation into their company, Pension Fund of America.

Judge Judge K. Michael Moore of the U.S. District Court for the Southern District of Florida agreed to the settlement on May 21, but the SEC announced the judgment Thursday.

The case was brought by the SEC against Pension Fund of America, its subsidiaries and its directors, Luis M. Cornide and Robert...
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