After a string of recent courtroom defeats, the U.S. Securities and Exchange Commission declared victory following a two-week securities fraud trial in Minneapolis federal court.

But the jury’s findings on Tuesday weren’t as clear-cut as the SEC suggested, since the verdict was mixed on whether the defendant, fund manager Marlon Quan, intentionally committed fraud. Quan’s lawyers from Wilmer Cutler Pickering Hale and Dorr said the findings cannot be reconciled.