Friday, 29 August 2014
Last updated 45 min ago
Dec 13 2011 | 1:00pm ET
Facing a Securities and Exchange Commission probe that could lead to civil fraud charges against it and founder Philip Falcone, Harbinger Capital Partners may have another legal headache, courtesy of plaintiffs' law firm Zamansky & Associates.
The New York firm yesterday announced its own investigation into Harbinger, asking current and former investors who "wish to discuss your rights, or have information to share that will assist our investigation" to contact it. Zamansky's press release does not specify what, exactly, it's own investigation is considering, but mentions the controversial $113 million loan Falcone took from the hedge funds two years ago, the SEC's market-manipulation probe and Harbinger's investment in wireless Internet venture LightSquared.
"Many investors have been reportedly angered over Harbinger's 'all in' approach to LightSquared and by closing its funds to redemptions," Zamansky, which would not doubt like to harness such anger towards litigation, wrote in its press release.
According to published reports, the SEC is investigating the loan, the possible market manipulation and potential preferential treatment given Goldman Sachs in terms of redemptions. Harbinger has denied any wrongdoing and said it will defend itself should the SEC bring a lawsuit.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...