Judge Moots SEC’s Argument on Records Request

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First, the Securities and Exchange Commission told an investment research firm that it could neither confirm nor deny the existence of records it sought on open investigations. When the firm sued, the SEC argued the case should be dismissed because the investigations it wouldn’t acknowledge had been closed, and so the request was moot. U.S. District Judge Paul A. Magnuson said he had some trouble with that logic. He rejected the SEC argument that the research firm should be required to file an all new request. (11/8/05)