FrontPoint To Close Healthcare Funds Under Insider-Trading Cloud

Nov 19 2010 | 6:43am ET

The Greenwich, Conn.-based hedge fund plans to close the funds and return the $1.5 billion they manage to investors by the end of the month. The move follows the suspension of lead healthcare manager Joseph Skowron earlier this month, following the arrest of a French doctor accused of passing confidential information on to several hedge funds.

Neither Skowron nor FrontPoint, which is being spun-off from Morgan Stanley, have been accused of any wrongdoing.


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