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The Boston Globe

Business

High court questions US claim on fraud suit’s time limit

WASHINGTON — The Supreme Court seemed skeptical about the government’s claim that it should be allowed more time to sue some fund executives for securities fraud.

The high court on Tuesday heard arguments from Gabelli Funds executive Bruce Alpert and former executive Marc J. Gabelli, who say the Securities and Exchange Commission missed its chance to sue them for allegedly committing fraud by allowing a hedge fund to rapidly trade shares of a mutual fund.

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