A jury’s mixed verdict in the SEC’s case against fund manager Marlon Quan had both the SEC and Quan declaring victory yesterday, although the SEC seems to have gotten the better of it. As I discussed in detail here this month, the SEC has engaged in an extraordinary flurry of trials since October 1, 2013, with generally poor results. After yesterday’s verdict, the SEC has now gone to trial in ten cases so far in its FY 2014, and has either lost or suffered a mixed verdict in eight of them.
