SEC Loses CDO Case Against Ex-Citi Bigwig
A federal jury in Manhattan handed the U.S. Securities and Exchange Commission a defeat in its case against Brian Stoker, the former director of collateralized debt obligation structuring at Citigroup, in which it charged Stoker violated securities laws by not disclosing to investors that he allegedly helped select roughly half the underlying assets in a $1 billion CDO-squared.
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