An investor group led by hedge fund Appaloosa Management has settled a lawsuit stemming from its decision last year to back out of a $2.55 billion financing deal with then-bankrupt auto parts maker Delphi Corp.
Helmut Kiener, the accused fraudster and founder of fund of hedge funds K1 Group, is trying to offload a mansion he owns through a company headed by an accused co-conspirator.
Despite a trio of arrests, including of the firm’s founder, the auditor for fund of hedge funds shop K1 Group said it would be “bold” to assume the fraud allegations against it are true.
The Securities and Exchange Commission is continuing its crackdown on insider-trading, charging seven people, including a former hedge fund executive, in its latest complaint.
Ronald Yee, who until last year served as CFO of San Francisco-based ValueAct Capital, was hit with civil charges on Friday. But unlike the insider-trading case of Raj Rajaratnam, the Galleon Group founder, ValueAct was apparently not the beneficiary of Yee’s alleged malfeasance.
Galleon Group founder and accused insider-trader Raj Rajaratnam has asked a judge to cut his record $100 million bail to something a little bit more manageable.
Crude oil has broken through levels not seen since 2014 and it appears to be entering a new phase, ending the downward super cycle that took crude from above $100 per barrel to under $30, and entering a phase where both supply and demand are expected to grow.