Shopping Cart -

Your cart is currently empty.
Continue Shopping
This website use cookies and similar technologies to improve the site and to provide customised content and advertising. By using this site, you agree to this use. To learn more, including how to change your cookie settings, please view our Cookie Policy
Pocketmags Digital Magazines
IT
Pocketmags Digital Magazines
   You are currently viewing the Italy version of the site.
Would you like to switch to your local site?
Digital Subscriptions > The Hedge Fund Journal > Issue 135 – Oct 2018 > SEC Charges Hedge Fund Manager with Short-and-Distort Scheme

SEC Charges Hedge Fund Manager with Short-and-Distort Scheme

CRAIG S. WARKOL, MARC E. ELOVITZ and BRIAN T. DALY, SCHULTE ROTH & ZABEL LLP

On Sept. 12, 2018, the US Securities and Exchange Commission charged the principal of a hedge fund manager and the hedge fund manager itself with illegally profiting from a scheme to drive down the price of Ligand Pharmaceuticals Inc. (“Ligand”), generating approximately $1.3 million in illegal profits. The SEC’s complaint1 charges that Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC (“LCM”) issued false information about Ligand after Lemelson took a short position in Ligand on behalf of The Amvona Fund (“Amvona”), a hedge fund LCM advised and Lemelson partly owned.

The regulatory action follows the Commission’s stated objective of protecting retail investors and is a continuation of a multi-year effort by the SEC to monitor hedge funds (and others) using social media to disseminate information about public companies.

READ MORE
Purchase options below
Find the complete article and many more in this issue of The Hedge Fund Journal - Issue 135 – Oct 2018
If you own the issue, Login to read the full article now.
Single Issue - Issue 135 – Oct 2018
€129,99
Or 12999 points
6 Month Digital Subscription
Only € 140,00 per issue
€699,99
Or 69999 points

View Issues

About The Hedge Fund Journal

Informing the Hedge Fund Community. With access to some of the industry’s biggest names and an astute and talented group of writers and contributors, The Hedge Fund Journal has established itself as a trusted source of information on the hedge fund industry.