FOX – The U.S. Securities and Exchange Commission suffered a loss on Friday in a long-running case against a New York hedge fund manager and two others accused of engaging in a $1.3 million insider trading scheme.
A federal jury in Manhattan found Nelson Obus, a fund manager at Wynnefield Capital Inc, not liable on an SEC claim he traded on inside information about a 2001 takeover of industrial products supplier SunSource Inc.
