Diamondback To Pay $9M, Help Feds' Insider Trading Cases

Law360, New York (January 23, 2012, 11:58 AM EST) -- Diamondback Capital Management LLC will pay $9 million to settle insider trading claims brought by the U.S. Securities and Exchange Commission and will cooperate in civil and criminal insider trading cases against two of its former employees, the SEC said Monday.

According to a statement released by the commission, the Stamford, Conn.-based hedge fund agreed to return $6 million of allegedly ill-gotten gains and pay a $3 million civil penalty. Diamondback also submitted a statement of of facts to the SEC and federal prosecutors, who are...
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Case Title

Securities and Exchange Commission v. Adondakis et al


Case Number

1:12-cv-00409

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Shira A. Scheindlin

Date Filed

January 17, 2012

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