Another Firm Says It's Not Target Of US Trading Probe

Law360, New York (December 7, 2010, 7:15 PM EST) -- Loch Capital Management LLC, one of three hedge funds raided in connection with a growing investigation into Wall Street trading consultants, has reportedly told investors it is not a target of the government’s probe.

The owners of Boston-based Loch Capital — twin brothers Timothy and Todd McSweeney — sent a letter to investors on Friday, confirming the FBI raid and saying the investigation seems to be focused on industry research consultants, not the hedge funds, according to multiple news reports.

The letter follows similar correspondence between...
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