Daily Archives: November 27, 2013, 4:20 pm

Hedge-fund ‘Fight Club’ traded illegal tips instead of punches – Bloomberg

The hedge-fund analysts vacationed together in the Hamptons, gambled in Las Vegas and adopted a creed that parodied the rules in the Brad Pitt film “Fight Club.” Instead of trading punches, they traded illegal tips that allowed their portfolio managers to reap tens of millions of dollars in profit. Having pleaded guilty to insider trading, four of the men are now…

Read More

HP, Whitman Must Face Investor Suit Over Autonomy – Bloomberg

U.S. District Judge Charles Breyer in San Francisco said today investors can proceed with claims against Whitman over statements she made in May and June of 2012 about the British software company. Whitman “omitted material information which the complaint alleges she possessed at the time, namely that she was considering accounting fraud at Autonomy” as the explanation for its weak…

Read More