Although it has been three years since Janus paid $226 million to settle market-timing charges, the Securities and Exchange Commission has taken three former Janus executives, Warren Lammert, Lars Soderberg and Lance Newcomb, to trial in Denver for market timing.

Their defense's opening argument centered on the fact that market timing was openly practiced at the firm, yet other high-level executives, including former CEO Mark Whiston, are not on trial.

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