Lawyers in the case against former Bank of America broker Theodore C. Sihpol will meet Oct. 20 to discuss whether or not he will be retried on the four counts for which Justice James A. Yates declared a mistrial, Dow Jones reports.

On June 9, a New York State Supreme Court jury acquitted Sihpol on 29 counts of larceny and falsifying business records for helping hedge fund Canary Capital Partners market time and late trade mutual funds, but the panel was deadlocked on four counts.

To the surprise of many in the investment management industry, a retrial for the remaining charges was scheduled, for Aug. 22, but was postponed. That delay fueled speculation that New York Attorney General Eliot Spitzer, who brought the charge against Sihpol and settled with Canary for $40 million, was disappointed in losing his only criminal case in the mutual fund trading scandal and might drop the remaining charges for fear of losing again

Sihpol's lawyer, C. Evan Stewart, declined to comment on whether he believes the case will be dismissed, simply demurring that the purpose of the meeting is to "hear what the intent of the parties is going to be." Spitzer spokesman Brad Maione had no comment. But if a retrial does occur and Sihpol's defense team is correct that some evidence cannot be resubmitted because of the earlier acquittal, that could play to his favor.

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