Janus: Not A Target Of Insider-Trading Probe

Dec 3 2010 | 11:03am ET

Mutual fund giant Janus Capital Group has followed the lead of two hedge funds raided in the government's huge insider-trading probe, announcing that it is not a target of the investigation.

Janus said yesterday that it "has not been accused of any wrongdoing and the government confirmed that Janus is not a target of its investigation into potential insider trading." Janus, along with SAC Capital Advisors and Citadel Investment Group, received a subpoena in the case last week.

Both Diamondback Capital Management and Level Global Investors—two of the three hedge funds whose offices were raided last month—said last week that the government has assured them that they, too, are not targets of the probe. Diamondback did say that the raid was focused on one of its portfolio managers, who has since been put on leave.

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