SEC Sues Wood Partners Over Investment Decision

Law360, New York (October 14, 2005, 12:00 AM EDT) -- The Securities and Exchange Commission has sued Wood River Capital Management LLC, the once high-flying Idaho hedge fund, alleging the firm misled investors by placing the majority of its assets in a single company.

The SEC filed its complaint Thursday in the U.S. District Court for the Southern District of New York, accusing the company and its founder of fraud and violation of ownership reporting rules.

The firm’s assets have been frozen, and judge Naomi Reice Buchwald granted a preliminary injunction against future violations, according to...
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