Hedge Fund Co. Calls SEC Fraud Claims Unfounded

Law360, New York (April 4, 2013, 7:18 PM EDT) -- Yorkville Advisors LLC asked a New York federal judge on Thursday to throw out a U.S. Securities and Exchange Commission suit claiming the hedge fund firm took $10 million in unjustified fees, saying the commission failed to show any fraud.

Though the SEC claims that the company overvalued its holdings to drive up its fee take, it has put forward no evidence that that actually occurred, Yorkville lawyer Nick Morgan of DLA Piper said at a hearing in Manhattan.

New Jersey-based Yorkville manages funds that invest...
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