Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Judge Tosses a Key Witness For the Bents Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, September 11, 2012

A Judge Tosses a Key Witness For the Bents

News summary by MFWire's editors

Strike one more for the Bents, who've suffered another blow in court. On Monday he judge in the SEC lawsuit about the Reserve Primary money market fund disallowed a key witness for the defense, reports the Wall Street Journal.

For the full story on the lawsuit so far and the death of the Primary Fund, see MFWire's timeline.

Judge Paul Gardephe prohibited Richard Painter, a University of Minnesota law professor, from testifying at the upcoming Oct. 1 trial. Painter would have described to the jury the panic of the financial crisis and the government's actions related to Lehman Brothers Holdings, a testimony Judge Gardephe believed would present "a grave risk of jury confusion." The trial "is not about whether the government should have more closely supervised Lehman, or about whether it should have rescued Lehman," he wrote in a ruling filed in the U.S. District Court for the Southern District of New York.

"We are disappointed by this decision but look forward to presenting the balance of our case to the jury," a spokesman for the Bents said in response. The SEC has declined to comment.

Meanwhile, Daniel Pollack, managing partner at New York-based law firm McCarter & English LLP, said the ruling could set a precedent for future financial-crisis cases.  

Edited by: Irene Park


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use