Sunday, 3 May 2015
Last updated 1 day ago
Aug 23 2013 | 5:04am ET
Moore Capital Management’s bill for allegedly “banging the close” on two precious metals has tripled.
The hedge fund settled a class-action lawsuit that accused it of manipulating platinum and palladium prices. The allegations mirrored those of the Commodity Futures Trading Commission, which fined Moore $25 million three years ago and levied trading restrictions.
Now, those trading restrictions have lapsed, but Moore has agreed to pay $48.4 million to settle the class-action suit, Reuters reports. The firm did not admit or deny wrongdoing.
According to the CFTC, Moore routinely sought to manipulate platinum and palladium prices on the New York Mercantile Exchange from at least November 2007 through May 2008.
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…