MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, August 12, 2011 Bents Asks a Judge to Toss the SEC's Reserve Lawsuit A week ago, Reserve founder and chairman Bruce Bent, Sr., president and vice chairman Bruce Bent II and operations managing director David Gareis all asked a federal to support a request for summary judgment and toss the SEC's case [see filings here, here, here, here and here]. For the full story on the lawsuit so far and the death of the Primary Fund, see MFWire's timeline. The MFWire.com could not immediately reach Bruce Bent II for comment. The Reserve's flagship Primary $50-billion-plus money fund broke the buck in September 2008 in the wake of the collapse of Lehman Brothers. The SEC later accused Reserve and its executives of lying to prevent Primary's shareholders from pulling their money out. Settlement discussions between Reserve and the SEC collapsed a year ago. Printed from: MFWire.com/story.asp?s=37571 Copyright 2011, InvestmentWires, Inc. All Rights Reserved |