SEC Pleaded Claims Against Hedge Fund Manager With Particularity, Judge Rules

Mealey's (February 2, 2017, 1:25 PM EST) -- FORT MYERS, Fla. — The Securities and Exchange Commission has pleaded its claims with particularity and has properly pleaded scienter in arguing that a hedge fund manager and others engaged in widespread securities fraud with regard to an investment scheme in violation of federal securities laws, a federal judge in Florida ruled Jan. 30 in substantially denying the defendants’ motion to dismiss (Securities and Exchange Commission v. Kingdom Legacy General Partners LLC, et al., No. 16-441, M.D. Fla., 2017 U.S. Dist. LEXIS 12717)....