Investment Adviser, Broker-Dealer End Dispute Over SEC Probe

A broker-dealer, partner fund, and investment adviser dropped litigation tied to the termination of a sales agreement and disclosure of a US Securities and Exchange Commission investigation.

The stipulation to dismiss the claims and counterclaims leaves the ability to replead, the parties told the US District Court for the Western District of Washington, but the case is closed in the meantime, Judge Benjamin H. Settle said May 29. Adviser Leader Capital Corp. didn’t sufficiently plead that disclosing the SEC probe revealed confidential or nonpublic information in breach of a contract or an implied duty of good faith and fair dealing ...