Perry Capital Receives Wells Notice

Jan 13 2006 | 8:59pm ET

The Securities and Exchange Commission is considering taking action against hedge fund Perry Capital in relation to the firm's trading shares of pharmaceuticals company Mylan Laboratories Inc.

According to a statement released by Perry Capital on Wednesday, a Wells notice was recently sent to the firm's founder, Richard Perry, who was formerly with Goldman Sachs.

Carl Berg, a portfolio manager at Perry, also received a letter from the SEC, saying that regulators are recommending legal action against the firm.   The SEC believes that Perry Capital's trading of Mylan shares may have violated certain provisions of federal securities laws, including Sections 10(b) and 13(d) of the Securities Exchange Act of 1934, Perry said in its statement.

The hedge fund, which has $10 billion is assets under management, claims that is has done nothing wrong and plans to respond to regulators.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...