In a complaint filed in Manhattan federal court on Oct. 31,
Morgan Stanley sued ex-FrontPoint Partners hedge fund manager Joseph
"Chip" Skowron over the funds the bank paid to the U.S. Securities
and Exchange Commission. The lawsuit also called for unspecified compensatory
and punitive damages.
Doctor-turned-stock picker Skowron pleaded guilty in August
to trading stock of Human Genome Sciences Inc in 2008 based on non-public
information he admitted to having received from a consultant for the biotech
company, who also pleaded guilty to insider trading charges. Skowron was
sentenced to five years in prison and ordered to forfeit $5 million…….
No comments:
Post a Comment