Hedge Fund Manager Fined $1.3M Over Short Sales

Law360, New York (December 13, 2011, 8:42 PM EST) -- The U.S. Securities and Exchange Commission on Friday hit Touradji Capital Management LP with $1.3 million in penalties after finding that two former employees of the hedge fund manager had short sold securities ahead of public offerings of those shares to net more than $800,000 in profits.

In an administrative proceeding filing, the SEC said that on three occasions from October 2007 to July 2008, the company had sold certain securities during a restricted period before a public offering and then bought the same shares after...
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