Judge Lets SEC's Fraud Claims Proceed Against Ex-Citi Exec

Law360, New York (July 10, 2012, 10:07 PM EDT) -- A New York federal judge on Tuesday allowed the U.S. Securities and Exchange Commission’s suit against ex-Citigroup Inc. executive Brian Stoker to proceed to trial, finding there was genuine dispute over whether he had used certain misstatements in marketing materials related to securities the bank had bet against.

U.S. District Judge Jed S. Rakoff denied Stoker’s May motion for summary judgment, finding that there was enough evidence for a jury to determine whether Stoker, the deal manager on a collateralized debt obligation fund in which Citigroup...
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