Thursday, June 13, 2013

SEC, Fund Execs Strike Deal Over $68M Insider Trading Plot

From Law360: The U.S. Securities and Exchange Commission has reached a tentative settlement in New York federal court with convicted hedge fund executives Anthony Chiasson and Todd Newman over an alleged $68 million insider trading scheme involving shares of Dell Inc. and Nvidia Corp., the agency said Monday.

Chiasson, a founder of Level Global Investors LP, and Newman, a former portfolio manager at Diamondback Capital Management LLC, were convicted in December and sentenced in May to 78 months and 54 months in prison, respectively…...

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