Feb 4 2013 | 4:25pm ET
The "most lucrative" insider-trading scheme in history may not have been as rich as prosecutors have suggested.
Former SAC Capital Advisors portfolio manager Mathew Martoma stands accused of earning the hedge fund some $276 million in illicit profits—both gains and losses avoided—trading on confidential information about Alzheimer's drug trials. But in all of their public pronouncements, the Justice Department has not mentioned that SAC did suffer a loss on the trade through an equity swap previously disclosed only in court documents.
Feb 3 2014 | 9:27am ET
In recognition of his extraordinary dedication to philanthropy, Marathon Asset Management’s Bruce Richards will be presented with the Award for Caring during the 16th Annual New York Open Your Heart to the Children Benefit, which takes place on Thursday, March 6. The gala, the largest gathering that Hedge Funds Care/Help For Children holds worldwide, will bring together 1,000 hedge fund executives to raise funds to help prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…