SEC's $93M Win Not Backed By Proof, Adviser Tells 1st Circ.

By Julie Manganis ( January 10, 2025, 7:09 PM EST) -- Commonwealth Financial asked a First Circuit panel Friday to undo a $93 million award the U.S. Securities and Exchange Commission won last year, saying the lower court was too quick to find that the firm's disclosure practices harmed investors....

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