Diamondback, Level Global Not Insider-Trading Probe's Focus

Nov 30 2010 | 11:43am ET

Two of the three hedge funds whose offices were raided last week as part of a major insider-trading investigation have said that they are not targets in the probe.

Both Diamondback Capital Management and Level Global Investors told investors that they have been assured by the government that they are not being targeted. But Diamondback, which is based in Stamford, Conn., said that the raid was focused on one of its portfolio managers, who has been put on leave, and a former employee.


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