Calif. Hedge Fund Bigwigs Reach Deal In Galleon Case

By Evan Weinberger

Law360, New York (January 25, 2010, 6:33 PM ET) -- Two California hedge fund bigwigs have reached a $2.1 million settlement with the U.S. Securities and Exchange Commission as part of federal authorities' sprawling investigation into insider trading at hedge fund group Galleon Corp., the SEC revealed in a court filing Monday.

Under the settlement, Ali Far and Richard Choo-Beng Lee, the founder and former president, respectively, of California hedge fund Spherix Capital LLC, will jointly pay the $2.1 million total penalty.

In a Jan. 20 letter to Judge Jed S. Rakoff of the U.S. District...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles