Portfolio Manager Fights To Escape CDS Suit

Law360, New York (August 25, 2009, 2:49 PM EDT) -- A portfolio manager accused of being involved in an improper swap of information about a bond offering from Dutch media conglomerate VNU NV has asked a federal judge to toss the suit, which the U.S. Securities and Exchange Commission has said is the first insider trading case involving credit default swaps.

In a motion for a judgment on the pleadings filed Monday in the U.S. District Court for the Southern District of New York, former Millennium Partners LP portfolio manager Renato Negrin argued the case brought...
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