SEC Says Humana Trading Probe Involves 44 Funds, Entities

Law360, Washington (July 17, 2014, 5:53 PM EDT) -- The U.S. Securities and Exchange Commission unveiled Wednesday that it believes 44 investment funds may be involved in a suspected health care insider trading scandal, urging a New York federal court to force the U.S. House of Representatives to turn over documents on an information leak that could have led to the scheme.

In a declaration filed Wednesday in the Southern District, an SEC official acknowledged that several large hedge funds and asset management advisers may have engaged in insider trading of health care company stock after learning about an impending Centers for Medicare and Medicaid Services regulatory change.

According to...

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