The Securities and Exchange Commission (SEC) is vowing to press on with its civil fraud case against IndyMac's former chief executive after a judge upheld his own decision to whittle the government's claims.

U.S. District Judge Manuel Real of California's Central District ruled Monday that IndyMac and ex-CEO Michael Perry did not mislead investors when the bank omitted from a May 2008 SEC filing a supplemental — less favorable — ratio for weighting subprime assets that it had reported to the Office of Thrift Supervision (OTS).

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