Tuesday, 1 December 2015
Last updated 8 hours ago
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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…