Diamondback — A Sign Of The Times

Law360, New York (February 7, 2012, 6:49 PM EST) -- The U.S. Securities and Exchange Commission announced recently that it had settled insider trading charges with Diamondback Capital Management LLC. As required by a recent SEC policy change, the proposed settlement appears to be the first not to include a representation that the defendant “neither admits nor denies” the SEC’s charges.

Under the proposed settlement, Diamondback agreed to pay more than $9 million and consented to a judgment that permanently enjoins it from future violations of federal anti-fraud laws. In itself, the settlement is not unusual....
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