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The bankruptcy trustee for the Bennett Funding Group, which was involved in one of the country's largest investor fraud schemes, does not have standing to sue third-party law firms for malpractice and negligence, a federal judge in New York has ruled. The opinion comes more than five years after the Securities and Exchange Commission filed a lawsuit against Patrick Bennett, who was convicted of securities fraud, bank fraud and money laundering.
August 22, 2001 at 12:00 AM
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The original version of this story was published on Law.Com
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