The Reserve Primary Fund trial has been postponed until Oct. 9, Bloomberg News reports.

U.S. district judge Paul Gardhephe, who's presiding in the trial, gave no reason for the delay. Last week, the defense attorney said he was hopeful that a settlement could be reached.

The SEC sued the Bents in May 2009, alleging that their Reserve Partners made misleading statements to investors prior to the collapse of the $62.5 billion Reserve Primary Fund in September 2008. 

Edited by: Chris Cumming


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