High Court Passes On Hedge Fund's Securities Offering Row

Law360, New York (May 14, 2012, 2:24 PM EDT) -- The U.S. Supreme Court on Monday declined to review a Massachusetts high court decision upholding a $25,000 fine and cease-and-desist order against a hedge fund for allegedly making an unregistered public securities offering via the Internet, which the hedge fund claimed violated its free speech rights.

In its petition to the Supreme Court filed in February, Bulldog Investors General Partnership Inc. said Massachusetts had violated its First Amendment rights by banning it from offering truthful and nonmisleading information on its website.

In his reply, however, William...
To view the full article, register now.