SEC to Dismiss Accounting Fraud Case Against Bridge Builder

The US Securities and Exchange Commission will drop a lawsuit against the former vice president of a California construction company that accused him of fraudulent accounting in projects including New York’s Kosciuszko Bridge.

Attorneys for Dale Swanberg and the SEC asked a federal judge in the Northern District of California to end the case, according to a filing made public on Thursday. The regulator said its decision was based on based on “the facts and circumstances of this case and its ongoing review of the evidence, including the narrowed scope of the evidence the SEC intended to present at trial.” ...