Tuesday, 5 May 2015
Last updated 9 hours ago
Apr 12 2012 | 10:30am ET
The only hedge fund to survive 2010's insider-trading raids has seen its settlement with the Securities and Exchange Commission finalized.
U.S. District Judge Harold Bear entered a final judgment on consent in the case last week, approving the deal Diamondback struck in January. The hedge fund agreed to pay more than $9 million in disgorgement, pre-judgment interest and fines.
The settlement also includes a non-prosecution agreement.
According to the SEC, Diamondback made more than $5 million on illegal trades made by portfolio manager Todd Newman. Newman, who was arrested and charged in January, was allegedly tipped by Diamondback analyst Jesse Tortora, who is cooperating with prosecutors.
Diamondback has not been accused of wrongdoing itself, and has said it has cooperated with the investigation.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…