Judge OKs $18M Falcone Settlement With SEC

Law360, Los Angeles (September 16, 2013, 10:53 PM EDT) --  A New York federal judge on Monday approved an $18 million settlement between Philip Falcone and the U.S. Securities and Exchange Commission in which the ex-hedge fund manager admitted wrongdoing in borrowing more than $113 million of his investors' money and running an illegal "short squeeze."

U.S. District Judge Paul A. Crotty confirmed the deal, initially announced in August, which forces Falcone and Harbinger to pay $18 million in disgorgement and bans Falcone from participating in the securities industry for five years. For his end of the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities and Exchange Commission v. Falcone et al


Case Number

1:12-cv-05027

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul A. Crotty

Date Filed

June 27, 2012


Case Title

Securities and Exchange Commission v. Harbinger Capital Partners LLC et al


Case Number

1:12-cv-05028

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul A. Crotty

Date Filed

June 27, 2012

Law Firms

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.