September 30, 2013
A federal judge on Monday refused a U.S. Securities and Exchange Commission request for a new trial against money manager Bruce Bent Sr., who was accused of lying to investors to save a $62.5 billion fund.
December 13, 2012
The U.S. Securities and Exchange Commission will seek a new trial against money manager Bruce Bent after failing to convince a New York federal jury that he lied to investors to try save his company's $62.5 billion fund, the agency said Wednesday.
November 13, 2012
The U.S. Securities and Exchange Commission is on the hot seat after losing another trial against an individual tied to the financial crisis, but attorneys say Monday's defeat against money manager Bruce Bent isn't likely to make the agency gun-shy.
October 09, 2012
The heads of Reserve Management Co. Inc. lied to investors to try save the company's $62.5 billion money market fund in the wake of the Lehman Brothers Holdings Inc. bankruptcy, a U.S. Securities and Exchange Commission attorney told a jury Tuesday.
October 02, 2012
A New York federal judge agreed Tuesday to allow Reserve Management Co. Inc. to discuss the government's role in its 2008 understanding of Lehman Brothers Holdings Inc.'s finances to battle claims that the company misled investors about the safety of its money market fund.
September 12, 2012
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.
July 13, 2012
A New York federal judge on Friday said he would limit the time allotted each witness at trial in the U.S. Securities and Exchange Commission's long-running suit alleging Reserve Management Co. Inc. made deceptive statements about its money market fund following the Lehman Brothers Holdings Inc. collapse.
April 09, 2012
A federal judge ruled Monday that government lawyers must answer questions on whether they pushed players in the Reserve Management Co. Inc. probe to alter evidence in the case, which alleges Reserve's owners lied to investors about its fund's safety before Lehman Brothers Holdings Inc.'s collapse.