Amaranth Settlement Approved

Dec 21 2011 | 2:09am ET

Amaranth Advisors' settlement of a class-action lawsuit has been approved by a federal judge.

The collapsed hedge fund will pay $77.1 million to end the lawsuit, accusing it of market manipulation. The pact was approved on Dec. 15 by U.S. District Judge Shira Scheindlin, with a hearing on final approval scheduled for March 27.

Amaranth imploded in 2006 after losing $6.6 billion in the natural gas markets. The firm had already settled with the Commodity Futures Trading Commission.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note