$6.3M Final Nail In Coffin Of SEC's Wood River Suits

Law360, New York (August 10, 2007, 12:00 AM EDT) -- Defunct hedge fund Wood River Capital Management LLC and its former head John Whittier have been ordered by a district court to shell out $6.3 million to lay to rest the civil half of the Securities and Exchange Commission's two-pronged litigation over the fund's alleged fraud.

Kaye Scholer LLP's Arthur Steinberg, lead attorney for Wood River, called the settlement a "fair resolution under the circumstances."

Judge Naomi Reice Buchwald of the U.S. District Court for the Southern District of New York on Monday entered the court's...
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