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News April 18, 2005 Issue

SEC Staff Appeals ALJ B Share Ruling

The SECís Division of Enforcement has asked the Commission to reconsider the February 10 ruling of an administrative law judge in the IFG Network Securities case. The ALJ, said the staff, misconstrued the allegations in the case: Enforcement did not allege that Class A shares outperform Class B shares at or above the $250,000 level in all cases.