L.A. Times - Business:
The firms were working without required contracts. The official who oversees the pension fund's $5.8-billion hedge fund portfolio reportedly was disciplined. California's huge public employee pension fund, under scrutiny after suffering b (Read More)
Wall Street Journal:
The telecommunications sector, the best performer this week, may have trouble hanging onto these gains in coming weeks if hedge fund appetite for defensive stocks wanes.
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Reuters:
BOSTON (Reuters) - Federal securities regulators won an insider trading case when a jury in Boston ruled that a former Fidelity employee illegally profited from trading stocks that the mutual fund giant was buying for itself.
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Financial Times:
What's this? Has the SEC managed to successfully prosecute someone for insider trading?Looks like it, according to Reuters:Federal securities regulators won an insider trading case when a jury in Boston ruled that a former Fidelity employee illegally profited from trading stocks that the mutual fund giant was buying for its (Read More)
New York Times:
Raj Rajaratnam, the founder of the Galleon Group, said his hedge fund had based its investments on research and not, as the authorities claim, on inside information.
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Wall Street Journal:
HONG KONG (MarketWatch) -- Galleon Group founder Raj Rajaratnam, currently fighting insider-trading allegations, was deposed by U.S. federal authorities in 2007 in another insider-trading investigation involving a hedge-fund run by his brother, according to a report Wednesday. In papers filed in a New York federal court, Ra (Read More)
New York Times:
Federal securities regulators won an insider trading case when a jury in Boston ruled that a former Fidelity employee illegally profited from trading stocks that the mutual fund giant was buying for itself. (Read More)
Reuters:
NEW YORK (Reuters) - Raj Rajaratnam, the billionaire founder of hedge fund firm Galleon Group, denied federal insider trading charges and accused the government of violating his constitutional rights with its use of wiretaps.
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FT.com - Investor's notebook:
The hedge fund sector looks to be going through the early stages of recovery, says Huw van Steenis at Morgan Stanley. (Read More)
New York Times:
Raj Rajaratnam, the hedge fund executive accused of masterminding a $20 million insider trading ring, responded to civil fraud charges on Tuesday, attacking investigators' use of wiretaps and arguing that prosecutors omitted key facts in their original complaint. (Read More)
Financial Times:
Raj Rajaratnam, the billionaire founder of the Galleon hedge fund accused by the US Securities and Exchange Commission of insider trading, has rejected the charges against him. In a court filing on Tuesday, Mr Rajaratnam denied the SEC's allegations and accused the government of violating his constitutional rights with its (Read More)
Wall Street Journal:
LONDON (MarketWatch) -- Prudential Financial was upped to outperform from market perform by Wells Fargo, as the broker said the insurer is emerging from the financial crisis better capitalized and with a higher degree of financial flexibility than many of its peers. "Prudential looks much as it did prior to the financial c (Read More)
New York Times:
Man Group, the publicly listed hedge fund giant, saw its shares take a hit Tuesday after Credit Suisse downgraded the firm to "neutral" from "outperform," on valuation grounds. (Read More)
FT Alphaville:
Lehman Brothers International (Europe), where more than $35bn of hedge fund assets have been frozen since the bank's collapse last September, could return about $11bn to fund managers by March if enough firms approve a new plan, reports Reuters. PricewaterhouseCoopers, administrators for bankrupt Lehman's UK-based unit,... (Read More)