3rd Time Not A Charm For Failed SEC PIPEs Claims

Law360, New York (January 29, 2008, 12:00 AM EST) -- A federal judge has tossed a lawsuit filed by the U.S. Securities and Exchange Commission over a private investment in public equity transaction, marking the third time the SEC's attempts to litigate a PIPEs case have been denied.

In a decision handed down on Jan. 25, Judge Eduardo C. Robreno of the U.S. District Court for the Eastern District of Pennsylvania threw out the SEC's claims that Robert Berlacher, the former manager of hedge fund Lancaster Investment Partners LP, violated federal securities laws by using stock...
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