Faulting the U.S. Securities and Exchange Commission’s trial strategy, a federal appeals court on Monday overturned a jury’s finding that a former Prudential Securities broker committed civil fraud by rapidly trading mutual funds.
The 2nd U.S. Circuit Court of Appeals in Manhattan said the evidence did not support a December 2011 negligence verdict against Frederick O’Meally, and that the case should be dismissed.
via U.S. court faults SEC trial strategy against broker, tosses verdict | Reuters
