SEC Will Not Take Action Against Pequot

Law360, New York (October 5, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission will not bring an enforcement action against Pequot Capital Management, the hedge fund that grabbed headlines after an SEC attorney claimed he was fired for pursuing a probe into insider trading at the firm.

In a letter to clients, Pequot disclosed that the Commission would not file charges against the fund, although the investigation would remain open.

“I am very pleased to tell you that we have been informed by the staff of the Securities and Exchange Commission that it...
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