Fund Manager Forks Over $1M To End SEC Insider Trading Suit

Law360, New York (July 30, 2012, 4:42 PM EDT) -- A New York investment manager and two of his hedge funds agreed to pay $1.1 million to settle allegations that they made illegal insider trades based on nonpublic information about Chinese reverse merger company China Yingxia International Inc., the U.S. Securities and Exchange Commission announced Monday.

Investor and former New York Daily News columnist Peter Siris, along with his funds Guerrilla Capital Management LLC and Hua Mei 21st Century LLC, agreed to pay the $1.1 million in disgorgements, interest and penalties to settle a suit formally launched Monday alleging he misled investors in the funds, through which he invested $1.5 million...

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