Author Archives: the HedgeCo News Team
PBGH founders charged in market timing case
NEW YORK (AP) — The founders of the Pilgrim-Baxter fund family were charged by state and federal regulators Thursday with improper trading of their funds to benefit themselves and friends at theexpense of longer-term shareholders. The civil actions by the […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against AllianceBernstein Technology Fund, AllianceBernstein Fund, Inc., Alliance Capital Management Holding L.P., Alliance Capital Management L.P., Alliance Capital Managemen
NEW YORK, NY — (MARKET WIRE) — 11/19/2003 — A class action lawsuit was commenced in the United States District Court for Southern District of New York on behalf of all persons who purchased orotherwise acquired shares or other ownership […]
Dollar up on hedge fund purchases induced by repatriation+
TOKYO, Nov. 21 (Kyodo) — The U.S. dollar rose slightly against the yen Friday morning in Tokyo as some U.S. hedge funds converted yen-denominated shareholdings into dollars to repatriate prior tothe Nov. 30 book-closings. The late-morning dollar selling pared most […]
PBHG Founders Charged in Trading Case
NEW YORK (AP) – Regulators filed civil fraud charges against the two founders of the Pilgrim Baxter mutual fund family Thursday, saying they made millions for themselves and friends in an impropertrading scheme that harmed other fund shareholders. Gary Pilgrim […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against AllianceBernstein Technology Fund, AllianceBernstein Fund, Inc., Alliance Capital Management Holding L.P., Alliance Capital Management L.P., Alliance Capital Managemen
NEW YORK, NY — (MARKET WIRE) — 11/19/2003 — A class action lawsuit was commenced in the United States District Court for Southern District of New York on behalf of all persons who purchased orotherwise acquired shares or other ownership […]
Foreign-exchange traders snared in Wall Street sting
A lone FBI agent working undercover for 18 months broke open the dramatic New York case that led to the raids and arrests of a slew of foreign-exchange traders in Manhattan on Tuesday, officials saidyesterday. The giant sting – dubbed […]
SEC Commissioner Outlines Mutual Fund Reforms; Committee Remains Critical
Nov. 19–Securities and Exchange Commissioner William H. Donaldson confessed yesterday that for years his agency had failed to check funds to catch wrongdoing like late trading or market timing,practices used to steal millions from small investors. “For too long, the […]
FBI Created Hedge Fund in Sting
NEW YORK (AP) – In an elaborate undercover operation to infiltrate an alleged foreign exchange and securities scam, the FBI set up a fake hedge fund called Centurion Consulting Inc., according tocourt documents unsealed Wednesday. It was through this hedge […]
Janus Hires Firm to Assess Market-Timing
DENVER (AP) – Janus Capital Group Inc. said Wednesday it hopes to know by the middle of next month how much improper trading arrangements cost its mutual fund shareholders. The Denver-based company also should have a method for making restitution […]
Bernstein Liebhard & Lifshitz, LLP Announces Class Action Lawsuit Commenced Against AllianceBernstein Technology Fund, AllianceBernstein Fund, Inc., Alliance Capital Management Holding L.P., Alliance Capital Management L.P., Alliance Capital Manag
A class action lawsuit was commenced in the United States District Court for Southern District of New York on behalf of all persons who purchased or otherwise acquired shares or other ownership units of one or more of the mutual […]
Tokyo Stocks Plunge as Higher Yen Hits Techs
Tokyo, Nov. 19 (Jiji Press)–Stocks plunged on the Tokyo Stock Exchange Wednesday, as export-oriented technology heavyweights were beaten down on the heels of Wall Street stocks’ setback overnightand the yen’s appreciation versus the dollar. Amid dwindling turnover, the key Nikkei […]
BluMont Man Multi-Strategy Notes Close at C$35.8 Million
TORONTO–(BUSINESS WIRE)–Nov. 19, 2003–BluMont Capital Inc. (“BluMont”) (TSXV: BCC) is pleased to announce that its wholly-owned subsidiary, BluMont Capital Corporation, has raised C$35.8 millionwith its third multi-manager/multi-strategy principal guaranteed structured product – the BluMont Man Multi-Strategy Notes (“Multi-Strategy Notes”). The […]