NEW YORK May 30 The U.S. Securities and
Exchange Commission suffered a loss on Friday in a long-running
case against a New York hedge fund manager and two others
accused of engaging in a $1.3 million insider trading scheme.
A federal jury in Manhattan found Nelson Obus, a fund
manager at Wynnefield Capital Inc, not liable on an SEC claim he
traded on inside information about a 2001 takeover of industrial
products supplier SunSource Inc.
The jury also found Peter Black, a Wynnefield analyst, and
Thomas Strickland, a former employee at General Electric Co's
GE Capital who worked on the deal, not liable on insider
(Reporting by Nate Raymond in New York; Editing by Noeleen
Walder and Jonathan Oatis)