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August 3, 2012

Preliminary Hearing Waived: Motley Rice attorney provides insight to The Wall Street Journal

In a recent article in The Wall Street Journal, Motley Rice securities attorney and former Assistant U.S. Attorney Mark Labaton, discusses reasons why the CEO of the collapsed brokerage firm Peregrine Financial Group Inc. may have decided to waive a preliminary hearing in his criminal case.

The CEO, Russell Wasendorf, Sr., is charged with lying to government regulators as part of an alleged scheme to defraud his firm's clients.

In the article, Labaton says, "…waiving a preliminary hearing could also indicate the defense is discussing a plea deal. If there is no plea deal, prosecutors will likely now seek an indictment against Mr. Wasendorf from a grand jury."

Read the full article.