A federal judge in Manhattan on Monday threw out civil securities fraud claims against William Uchimoto—a former partner at Buchanan Ingersoll & Rooney, at Saul Ewing and at Stevens & Lee—who was accused by the Securities and Exchange Commission of misleading Nasdaq.
The agency had sued Uchimoto in connection with a broader probe of investment activities of stock promoter Benjamin Wey, who was known for helping Chinese companies get listed on U.S. stock exchanges through so-called reverse mergers. The SEC alleged that Uchimoto made misstatements while helping two clients of Wey’s company, New York Global Group, obtain Nasdaq listings.
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