Reserve Fund Charged With Fraud

06 May 2009

The Securities and Exchange Commission has charged operators of the Reserve Primary Fund with fraud for failing to provide key information to investors and trustees about the fund’s vulnerability in the wake of Lehman Brothers’ pending bankruptcy filing last September.

The Securities and Exchange Commission has charged operators of the Reserve Primary Fund with fraud for failing to provide key information to investors and trustees about the fund’s vulnerability in the wake of Lehman Brothers’ pending bankruptcy filing last September. Filed in U.S. District Court for the Southern ...

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