We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Hedge Fund To Pay $38M In Spitzer Probe

Law360 (December 22, 2005, 12:00 AM EST) -- New York Attorney General Eliot Spitzer’s market timing investigation has yielded yet another multi-million dollar settlement, with two Texas hedge funds agreeing to pay $37.7 million to settle allegations of market timing and late trading.

The charges, brought by the U.S. Securities and Exchange Commission, the New York Attorney General’s office, and the Commodities Futures Trading Commission, allege that Veras Capital Master Fund and VEY Partners Master Fund conducted inappropriate mutual fund trades between January 2002 and September 2003.

Also named in the suit were Veras...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.