Monday, 29 December 2014
Last updated 1 hour ago
Feb 10 2010 | 12:30pm ET
A convicted hedge fund fraudster is suing New York University for revoking his MBA degree.
Ayal Rosenthal sued the school in Manhattan federal court for breach of contract, saying the revocation was “unfair and excessive,” The New York Post reports. Rosenthal also took issue with the seven-month delay in holding a hearing on the issue in September 2007.
NYU, which last year won a court battle with another convicted hedge fund fraudster who was seeking his undergraduate degree from the university, said the delay was due to “the unusual nature of the violation.”
Rosenthal was convicted of passing on non-public information while he was an accountant at PricewaterhouseCoopers. According to the SEC, Rosenthal, who was attending NYU’s Stern School of Business part time when the alleged infractions occurred, was part of an insider-trading circle with his father and two brothers.
Zvi Rosenthal, the father, was charged with passing tips on his employer, Taro Pharmaceuticals, to his sons. The tips were used to trade Taro shares through Aragon Capital Advisors, a Rosenthal family-owned and controlled hedge fund.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.