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EXCLUSIVE: Obus Says SEC Attys Are 'Bullies'

Law360, New York (June 11, 2014, 5:26 PM EDT) -- Fresh off a trial victory against the U.S. Securities and Exchange Commission, hedge fund manager Nelson Obus on Wednesday denounced the agency’s courtroom tactics and called its attorneys “bullies” and “legal underperformers” in an interview with Law360.

Obus, a co-founder of Wynnefield Capital Inc., was found not liable on May 30 along with two other defendants following a two-week trial in New York federal court. The SEC had accused him of illegally earning $1.3 million for the hedge fund by trading on insider information about private equity firm Allied Capital Corp.'s 2001 acquisition of an industrial products supplier.

Obus, 67, is...

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