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Rating:Reserve Fires Back, In Court Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 23, 2009

Reserve Fires Back, In Court

by: Neil Anderson, Managing Editor

The Reserve's involved in another lawsuit, but this time Bruce Bent and company are the ones doing the suing. Compliance Reporter reports that, earlier in January, the Manhattan-based money fund specialists filed a lawsuit in Washington, D.C. against law firms Dechert and K&L Gates for alleged "professional malpractice" over '40 Act compliance.

For the full story on the the death of the Reserve and its Primary Fund, see MFWire's timeline.

A spokeswoman for Reserve could not immediately be reached by MFWire for comment, and a spokesman for K&L declined to comment. A spokeswoman for Dechert declined to comment beyond the following statement.

"This matter has no merit," the spokeswoman told MFWire, "and we intend to defend it vigorously." 

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