Friday, 19 September 2014
Last updated 10 hours ago
Jan 25 2013 | 12:33pm ET
Add another black cloud to the storm encircling SAC Capital Advisors.
A Delaware law firm is recruiting SAC investors to join a potential class-action lawsuit against the hedge fund, it said on its Web site. Chimicles & Tikellis told would-be plaintiffs that it is "actively investigating a proposed investor lawsuit against SAC Capital" over "mismanagement of the limited partnership and certain hedge funds."
The threat is, perhaps, the least of SAC's worries, as it faces a likely Securities and Exchange Commission enforcement action and a deepening probe into alleged insider-trading both of the firm and of founder Steven Cohen. A former portfolio manager has pleaded not guilty to the crime, but plenty of others with SAC ties have done the opposite and are cooperating with prosecutors.
SAC has denied any wrongdoing and dismissed the potential class-action.
"This is nothing more than a law firm trolling for clients for a non-existent claim that if initiated would have no merit," a firm spokesman told the New York Post.
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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