Law360 (June 2, 2020, 9:52 PM EDT) -- A Massachusetts federal judge on Tuesday handed a win to the U.S. Securities and Exchange Commission, ordering a Nevada investment adviser and its founder to pay back nearly $29 million they allegedly gained by defrauding clients.
In a five-page order, U.S. District Judge Denise J. Casper entered judgment against Navellier & Associates Inc., and its principal Louis Navellier, after granting partial summary judgment in February to the SEC on accusations that the investment firm participated in fraudulent conduct in violation of the Investment Advisers Act of 1940.
In her order, Judge Casper permanently enjoined Navellier from violating the law and ordered...
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