Ex-Citigroup Exec Stoker Beats SEC Fraud Claims

Law360, New York (July 31, 2012, 5:40 PM EDT) -- A jury on Tuesday rejected U.S. Securities and Exchange Commission civil fraud claims against former Citigroup employee Brian Stoker, who was accused of helping to package and sell a collateralized debt obligation that the bank secretly bet against.

An eight-person jury found Stoker, who worked as a deal manager in Citigroup's CDO department, did not violate two sections of the Securities Act of 1933 that make it illegal to lie to the purchaser of a security.

Stoker was accused of failing to tell investors in offering...
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