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.
‘Enforcement 40’ for 2020
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