Thursday, 18 September 2014
Last updated 46 min ago
Oct 15 2007 | 3:18pm ET
The Securities and Exchange Commission has charged a New York hedge fund with illegal naked short sales.
Colonial Investment Management and its principal, Cary Brody, allegedly used shares purchased in at least 18 registered public offerings to cover short positions, including one involving Legg Mason shares. The alleged malfeasance took place between 2001 and 2004, when it was illegal to cover shorts during the five days prior to offer pricing with securities bought in the offering.
The SEC, which filed its complaint in Manhattan federal court, alleges that the hedge fund, Colonial Fund, made $1.48 million in ill-gotten profits from the illicit naked shorts.
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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