DOJ Probing Hedge Funds' Bets Against Euro: Report

By Liz McKenzie

Law360, New York (March 03, 2010, 5:16 PM ET) -- The U.S. Department of Justice reportedly has initiated a probe into hedge funds believed to have colluded in betting against the euro in an attempt to drive down its value.

Citing people familiar with the matter, the Wall Street Journal reported Wednesday that the Justice Department had sent a letter asking hedge funds including Greenlight Capital Inc., SAC Capital Advisors LP, Paulson & Co. and Soros Fund Management LLC to maintain all records and e-mails relating to trades involving the euro.

A representative for the Justice...
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