SEC Readies For Trial With Reserve Management

Law360, New York (September 12, 2012, 7:19 PM EDT) -- The U.S. Securities and Exchange Commission said Wednesday it had not reached a settlement with Reserve Management Co. Inc. over claims the firm misled investors about the safety of its money market fund during the financial crisis, setting the stage for a lengthy trial in New York federal court.

SEC attorney Nancy Brown told U.S. District Judge Paul G. Gardephe at a court hearing that the parties had not crafted a deal to avoid trial beginning Oct. 1. Judge Gardephe warned Brown and Reserve attorney John...
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Case Information

Case Title

Securities and Exchange Commission v. Reserve Management Company, Inc. et al


Case Number

1:09-cv-04346

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul G. Gardephe

Date Filed

May 5, 2009

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