Mealey's (October 24, 2022, 1:12 PM EDT) -- NEW ORLEANS — The Fifth Circuit U.S. Court of Appeals will not rehear an appeal of a Securities and Exchange Commission ruling upholding an administrative law judge’s (ALJ) finding that a hedge fund manager and the funds’ investment adviser are liable for securities fraud in violation of the federal securities laws after a majority of the judges polled did not vote in favor of rehearing, a Fifth Circuit panel ruled Oct. 21 in denying a petition filed by the SEC....