Friday, 30 January 2015
Last updated 18 min ago
Sep 25 2008 | 10:29am ET
Sirios, a long-only and fund of hedge funds shop, has been slapped with a small fine by the Securities and Exchange Commission for illegally short selling two companies.
On two separate occasions, Sirios engaged in short sales made in advance of public offerings by Centene Corp. and Las Vegas Sands Corp.
In both cases, Sirios sold securities short within five business days before the pricing of each offering, and covered the short sales, in whole or in part, with shares purchased in the offerings, resulting in total profits of $198,069.
The firm has been ordered to pay disgorgement of $198,069, plus prejudgment interest in the amount of $38,989 and a civil penalty in the amount of $50,000 to the U.S. Treasury.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…