Amaranth Shells Out $717K To Settle SEC Probe

Law360, New York (May 10, 2007, 12:00 AM EDT) -- After losing $6 billion in the largest hedge fund collapse ever, Amaranth Advisors LLC has agreed to fork over $717,000 to put to rest an investigation by the U.S. Securities and Exchange Commission into its allegedly improper use of shares.

On Wednesday, the SEC revealed the settlement, which included a censure against Amaranth in addition to the hefty financial penalty.

The problems date back to November 2004 when Amaranth supposedly began engaging in a series of suspect follow-on offerings, according to the Commission.

During these transactions,...
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.