Middlegate VP Cleared Of SEC's Charges

Law360, New York (November 26, 2007, 12:00 AM EST) -- The vice president of a securities firm accused by the U.S. Securities and Exchange Commission of participating in a scheme to fix the price of a stock has been let off the hook by a district court, which tossed the regulator's charges against him.

On Wednesday, the U.S. District Court for the Southern District of New York granted a motion for summary judgment filed by Albert Sutton, an executive vice president at Middlegate Securities Ltd., ruling that the SEC had not proven that the broker knowingly...
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