Spitzer Files Market-Timing Suit Against Hedge Funds

Law360, New York (November 16, 2006, 12:00 AM EST) -- Eliot Spitzer may have been elected New York governor earlier this month, but he’s not giving up his post as state Attorney General and relaxing his surveillance of the hedge fund and mutual fund industries yet.

On Thursday, Spitzer filed a lawsuit against two hedge funds and their principals in New York state court, alleging that the funds engaged in a fraudulent mutual fund market-timing scheme.

The lawsuit names Samaritan Asset Management Services Inc., Johnson Capital Management Inc., and their principals, Edward T. Owens and Michael...
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