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Investors who were deceived into buying nonexisting money market funds can make "claims for securities" through the Securities Investor Protection Corp., a federal appeals court ruled Tuesday. Addressing an issue of first impression, the 2nd U.S. Circuit Court of Appeals said the victimized investors, many of them elderly, could not be limited to the $100,000 cash advance cap for "claims for cash" in the Securities Investor Protection Act.
June 10, 2004 at 12:00 AM
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The original version of this story was published on Law.Com
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