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Regulators Target Hedge Fund For Web Site

Law360 (February 7, 2007, 12:00 AM EST) -- Hedge fund managers are said to be anxiously awaiting the outcome of an action by Massachusetts regulators against a fund accused of making an unregistered public securities offering via its Web site.

In what could be a test case that finally draws the legal line between public and private offerings in the U.S., the complaint alleges Bulldog Investors failed to protect amateur investors from accessing its Internet offering, in seeming contravention of securities laws.

Lawyer Bill Natbony, who specializes in financial services at Katten Muchin Rosenman...
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