Giant Hedge Fund Probed By SEC: Report

Law360, New York (June 23, 2006, 12:00 AM EDT) -- Securities and Exchange Commission regulators are investigating one of the world’s top hedge funds for insider trading, according to a published report.

The New York Times, citing unnamed government sources, reported the SEC is investigating dealings of Pequot Capital Management, including its investment in the giant merger of General Electric Capital Corp. and Heller Financial that earned $18 million.

Officials with Pequot, a $7 billion fund, fiercely denied any wrongdoing Friday, saying the fund’s securities trading has been proper and has not been based on insider...
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