Saturday, 20 December 2014
Last updated 1 day ago
Mar 3 2006 | 12:00am ET
Actor John Cusack is the target of a lawsuit seeking the return of $166,123 that he was allegedly overpaid by troubled hedge fund Lipper Convertibles. Earlier this month, former New York Mayor Ed Kotch was also sued by the fund’s trustee for the same reason.
A slew of other high-profile figures have been caught up in the scandal involving the fund, which was run by Kotch's deputy mayor Ken Lipper. According to the lawsuit, Cusack invested a total of $300,000 with Lipper and then cashed out in 2000 with a $237,705 profit. Two years later, the departure of two executives triggered an investigation, which revealed that the fund was overvalued by almost $330 million.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.