Fund Manager To Pay $300K Fine In SEC PIPE Suit

Law360, New York (August 10, 2009, 2:07 PM EDT) -- A Texas hedge fund manager accused of orchestrating a $6.5 million illegal trading scheme has agreed to pay a $300,000 fine to resolve the U.S. Securities and Exchange Commission’s long-running case against him.

Judge Sidney Stein of the U.S. District Court for the Southern District of New York issued a final judgment against Gryphon Advisors LLC fund manager Edwin “Bucky” Buchanan Lyon IV on Friday, more than two years after the commission first sued the Dallas-based money man.

The SEC sued Lyon and Gryphon in December...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.