We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Ex-Hedge Fund Manager Settles With SEC For $1M

Law360, New York (July 8, 2011, 7:51 PM EDT) -- A former hedge fund manager will pay nearly $1 million to settle claims that he violated short-selling rules by participating in public stock offerings after shorting them within a time period restricted by the U.S. Securities and Exchange Commission, the agency said Friday.

Forrest Fontana, sole owner and employee of Boston-based Fontana Capital LLC, has agreed to pay a disgorgement of $816,000, prejudgment interest of $3,600 and a civil penalty of $165,000 to the U.S. Department of the Treasury, the SEC said.

In making the agreement,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.