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SEC accuses LOM of misleading Bermuda court, MD wants deposition held outside US

Lines Overseas Management Ltd. has been accused of misleading Bermuda Supreme Court in an attempt to obstruct a securities fraud investigation by the United States Securities and Exchange Commission. The SEC claims that LOM withheld information from the Bermuda court when the firm recently asked for a declaration whether it was allowed, under local law, to comply with administrative subpoenas that the Commission served on the investment firm's Managing Director, Scott Lines, in the United States in April, 2004.