Pentagon Capital Can’t Duck $99M Late-Trading Penalty

Law360, New York (April 2, 2012, 6:29 PM EDT) -- Pentagon Capital Management PLC must pay a $98.6 million penalty in a U.S. Securities and Exchange Commission case alleging illegal late trading, despite the hedge fund manager's protest that the fine is too high, a New York federal judge ruled Wednesday.

U.S. District Judge Robert Sweet said in an written order that Pentagon had engaged in an “intentional and egregious fraudulent late trading scheme over the course of several years” and violated securities laws thousands of times, making $38.4 million disgorgement and $38.4 million in civil...
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Case Information

Case Title

Securities and Exchange Commisison v. Pentagon Capital Management PLC et al

Case Number



New York Southern

Nature of Suit



Robert W. Sweet

Date Filed

April 3, 2008

Law Firms

Government Agencies

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