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SEC Probes Hedge Funds For Short-Selling Abuses

Law360 (September 25, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has reportedly ordered more than two dozen hedge funds to hand over trading records and e-mails as part of an investigation into whether the share prices of major financial institutions were manipulated.

The order asked for trading data over a three-week period involving American International Group Inc., Goldman Sachs Group Inc., Lehman Brothers Holdings Inc., Morgan Stanley, Washington Mutual Inc. and Merrill Lynch & Co., according to the Wall Street Journal, which cited people familiar with the matter.

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