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Friday, November 20, 2009
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Managed Money SMAs & Hedge Funds
The swift acquittal of two Bear Stearns executives in the government's criminal case tied to the financial meltdown likely will force prosecutors to rethink the evidence they planned to present in a raft of cases that have yet to go to trial, legal experts say.
Two Bear Stearns executives who ran hedge funds that crashed in 2007 amid the subprime mortgage meltdown were acquitted Tuesday of lying to investors about the looming crisis on Wall Street.
Federal prosecutors say criminal charges have been filed against 14 people, including attorneys and Wall Street professionals, in a widening $25 million insider trading case.
A German man who founded the hedge fund group K1 was arrested by police amid an investigation into possible fraud that may total some euro200 million ($295.7 million), prosecutors said Thursday.
A lawyer says a billionaire hedge fund manager charged in a $25 million insider trading case plans to clear his name and is not a flight risk.
The U.S. House Financial Services Committee has voted to regulate for the first time hedge funds and other large pools of capital.
Although Aviva USA Corp. already has an established strength in its lineup of indexed products, the insurer has its eye on the next innovation: a guarantee wrapper with a managed account or 401(k), according to chief executive Christopher J. Littlefield.
Busting billionaire hedge fund manager Raj Rajaratnam last week is a sign that the Securities and Exchange Commission is paying much closer attention to insider-trading rings , according to a former SEC enforcer-turned whistleblower.
A billionaire hedge fund manager charged in a $25 million insider trading case now faces a lawsuit saying he helped finance Sri Lankan militants notorious for suicide bombings.
A hedge fund company whose manager is criminally charged in an insider trading case told clients Wednesday it's shutting down its funds.
IBM Corp. put a top executive on leave Monday after he was charged in an insider trading scandal for allegedly leaking secrets about IBM's earnings and financial dealings with corporate partners.
A judge has thrown out a lawsuit against Vice President Joe Biden's youngest son and brother over their 2006 purchase of a hedge fund firm, saying an investor failed to be specific enough in claiming that they underhandedly shoehorned him out of the deal.
Federal authorities have arrested six people in a hedge fund insider trading case that they say led to $20 million in illegal profits.
Two former Bear Stearns hedge fund managers are on trial in one of the few criminal cases brought against Wall Street executives in connection with the collapse of the housing market.
Hedge funds produced positive returns for the seventh consecutive month in September, with the HFRI Fund Weighted Composite index gaining 3.02% for the month, according to data from Hedge Fund Research.
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