Ex-Chicago Merc Chairman Quits Hedge Fund

Sep 11 2007 | 3:53pm ET

Former Chicago Mercantile Exchange Chairman Laurence Rosenberg has resigned from the board of troubled hedge fund Lake Shore Asset Management, his lawyer said.

Rosenberg, who had served as chairman of the Chicago-based hedge fund, end his relationship with Lake Shore last month, informing regulators of his departure on Aug. 13, the Chicago Tribune reports. The Commodity Futures Trading Commission is probing the hedge fund, after the National Futures Association accused it of misleading investors about the funds’ performance.

“Obviously, Lake Shore has been getting a lot of press,” attorney Bob Byman said. “There was no reason for [Rosenberg] to stay with them while they are under this cloud.” Byman added that Rosenberg had no management responsibility at Lake Shore, and “pleaded” with firm president Philip Baker “more than once” to cooperate with investigators, who have demanded a slew of records and documents. Lake Shore is fighting the requests.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note