Mass. Targets Fund Over Use Of Expert Network Info

Law360, New York (March 9, 2011, 3:06 PM EST) -- Massachusetts securities regulators filed a complaint Wednesday accusing the manager of hedge fund RRC Bio Fund LP of using inside information obtained through expert network firm Guidepoint Global LLC to improve the fund's initially dismal returns.

The enforcement arm of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth filed the administrative complaint against Risk Reward Capital Management Corp., RRC Management LLC, RRC Bio Fund LP and investment adviser representative James Silverman.

The case will be heard by a hearings officer in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.