Cornerstone Settles, Enjoined From Trading

Law360, New York (November 14, 2007, 12:00 AM EST) -- Hedge fund operator Cornerstone Capital Management LLC and its former chief executive have put to rest the Commodity Futures Trading Commission's fraud suit by agreeing never to trade commodities again and promising to fork over restitution, a civil penalty and sanctions, the CFTC said Wednesday.

Judge Richard Story of the Atlanta district court signed off on Nov. 5 on the consent order that Cornerstone and its head Joseph Profit Jr. had inked to resolve claims the agency filed Jan. 31 accusing the pair of violating the...
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