Short-Selling Defendant Says Suit Is Res Judicata

Law360, New York (December 18, 2007, 12:00 AM EST) -- In another bid to toss the U.S. Securities and Exchange Commission's suit accusing him of leading a short-selling campaign to ruin a software company, Andreas Badian has invoked a suit that has already been settled, which the SEC brought against his brother over the same alleged scheme.

The suit that Andreas Badian is fighting was filed in early April and is based on claims that the Rhino Advisors Inc. principal collaborated with three Refco Inc. brokers in a short-selling scheme to run Sedona Corp. into the...
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