Fund Manager Committed Fraud In PIPE Deals: Judge

Law360, New York (September 14, 2010, 5:40 PM EDT) -- A federal judge ruled Tuesday that hedge fund manager Robert A. Berlacher did not engage in insider trading but did commit securities fraud with his use of nonpublic information related to four private investment in public equity transactions.

Judge Mitchell S. Goldberg in the U.S. District Court for the Eastern District of Pennsylvania ruled that Berlacher would have to disgorge just over $352,000 to the U.S. Securities and Exchange Commission, which had accused him and several funds he oversaw of fraud and insider trading in the...
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