On November 12th, the New York Times reported a jury has returned a mixed verdict in the SEC's trial against Bruce Bent and his son Bruce Bent II, Reserve Management Company Inc., and Reserv Partners Inc. The case stems from when the Reserve Primary Fund's net asset value fell below $1 in September 2008. While the jury found that the two corporate defendants violated the securities laws, it found both Bruce Bent senior and junior not guilty on charges that they lied to investors and the fund's board. Bruce Bent II was found guilty on one count of negligence. Mixed Verdict.