CORRECTED: Hedge Fund Manager Can't Dismiss SEC's Attempt At Ban

Law360, New York (May 16, 2013, 6:38 PM EDT) -- A hedge fund manager accused of misusing investor assets lost a motion Thursday to dismiss the U.S. Securities and Exchange Commission’s request for a ruling that would bar him from serving as director or officer of a public company, according to an Illinois federal court filing. 

U.S. District Judge Charles P. Kocoras denied Patrick G. Rooney’s motion to dismiss the so-called D&O bar, a common sanction in SEC fraud cases. The agency alleges Rooney failed to inform investors he had used $3.6 million from his Solaris...
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Case Information

Case Title

Securities & Exchange Commission v. Rooney et al


Case Number

1:11-cv-08264

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Charles P. Kocoras

Date Filed

November 17, 2011

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