SEC Voluntarily Dismisses Action against Hedge Fund Manager over Safeguarding Confidential Information while Participating on Creditors’ Committees
By EsqSocial Corporation 16/04/25
On April 7, 2024, the United States District Court for the District of Connecticut approved the Securities and Exchange Commission’s request to dismiss its action against a hedge fund manager for the manager’s alleged failure to safeguard material nonpublic information, in violation of § 204A of the Investment Advisers Act of 1940, when it engaged outside counsel to participate on creditors’ committees on its behalf and consult with the firm on related investments. The action was dismissed with...
By: Seward & Kissel LLP