Halls of Justice

Former Chicago Mercantile Exchange Chairman Laurence Rosenberg has resigned from the board of troubled hedge fund Lake Shore Asset Management, his lawyer said.

The settlement between Canadian pharmaceutical maker Biovail Corp. and Banc of America Securities could be bad news for hedge fund honcho Steven Cohen and his SAC Capital Management.

A Wall Street Bonnie and Clyde—former hedge fund analyst Ruopian Chen and his wife, former Morgan Stanley financial analyst Jennifer Wang—are walking hand in hand to the pokey.

The Securities and Exchange Commission has suspended John Fife, principal of hedge fund Clarion Management.

Citadel Investment Group has carved out a niche for itself, buying the assets of distressed and collapsing money managers for pennies. But it may have a fight on its hands over its most recent discount deal.

Among hedge funds, there are subprime winners and losers. Among law firms? Only winners.

A quartet of law firms from around the country are teaming up to set up one-stop shopping for investors in Bear Stearns’ two failed hedge funds who are interested in making Bear suffer for its alleged sins.

A promise is a promise, especially if a judge doesn’t think you are credible.

A Minnesota judge has ordered hedge fund Southway Partners to pay a former portfolio manager $1.83 million in unpaid bonuses plus interest, in spite of the fact that the manager, Paul Bottum, had no written agreement specifying the arrangement.

Investors burned by the collapse of the Bayou Group can continue to try to recoup money from those who got out early, a federal judge has ruled.

Erstwhile Amaranth Advisors energy trader Brian Hunter, whose natural gas trades sank the Greenwich, Conn., hedge fund, filed an 18-page tale of worry and woe with a federal court in Washington, D.C. on Friday, painting a picture of desperation and impending doom for his latest venture, hedge fund Solengo Capital Advisors. He is blaming Solengo’s problems on the Federal Energy Regulatory Commission, which has accused him of market manipulation in relation to trades he made at his former firm.

The Securities and Exchange Commissioned botched its probe of Pequot Capital and the hedge fund’s former chairman, John Mack, now the CEO of Morgan Stanley, a Senate report says.