Ex-Fund Manager Sues Alger Over Trading Policy

Law360, New York (July 1, 2011, 8:18 PM EDT) -- A former fund manager filed a proposed class action in New York on Wednesday accusing investment manager Alger Associates Inc. and its president of illegally restricting trade in health care stocks and firing the plaintiff when she exposed the policy.

Whistleblower Rosanne F. Ott claims her former boss, Daniel Chung, president and chief executive officer of Fred Alger & Co. Inc., carried out an illegal trading policy that allowed other portfolio managers to have first pick at executing trades, guaranteeing that investors in Ott's health care...
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