Saturday, 20 September 2014
Last updated 1 day ago
Nov 26 2012 | 12:09pm ET
With all eyes on SAC Capital Partners on the hedge fund fraud front, the Securities and Exchange Commission is weighing a lawsuit on another hedge fund manager.
Peter Eichler, CEO of Aletheia Research and Management, received a Wells notice, indicating that the SEC is likely to bring an enforcement action. The regulator is investigating allegedly improper trading, account manipulation and trade-allocation irregularities.
Aletheia, which manages both long-only funds and a hedge fund, filed for bankruptcy earlier this month. The firm, which once managed as much as $10 billion, is down to just $1.4 billion.
Eichler's lawyer said he would fight any charges leveled by the SEC.
The U.S. Justice Department is also getting involved in Aletheia's endgame, asking to be kept informed of all pleading in the case.
Aletheia last year paid $400,000 to settle SEC charges that it failed to keep sufficient records. It is also involved in a legal battle with private equity firm Proctor Investment Managers, which owns a 10% stake in the company.
Santa Monica, Calif.-based Aletheia listed $50 million in liabilities in its bankruptcy filing Nov. 11.
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…
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