Tue, Feb 9, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

SEC starts probe on Soros’ Herbalife trading

Thursday, August 29, 2013

amb
George Soros
Komfie Manalo, Opalesque Asia:

The U.S. Securities and Exchange Commission (SEC) has started its investigation into billionaire hedge fund manager George Soros’ trading at Herbalife after William Ackman accused Soros Fund Management of allegedly manipulating the shares of the nutritional supplement firm, various media reported.

In a report, Dividend.com said that SEC enforcement lawyer Liora Sukhatme recently spoke with Bill Keep, dean at the College of New Jersey who is a recognized expert on pyramid schemes, as an overshoot of Ackman’s accusation against Soros.

Early this month, Ackman of Pershing Square accused Soros of allegedly violating insider trading laws when he purchased large positions in Herbalife and then tipped off other hedge funds.

Soros’ large long position in Herbalife, estimated to be amongst his top three holdings, infuriated Ackman who has had an uncovered $1bn (around 20 million shares) bet against Herbalife since last December. Ackman lost an estimated $200m on his short bet in Herbalife.

Ackman also filed a complaint before the SEC against Soros’ family fund and unidentified co-con......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  2. Credit Suisse cherry picks hedge fund ideas[more]

    From FT.com: Credit Suisse Asset Management plans to cherry pick profitable concepts from hedge funds with the launch in Europe of a “best ideas” strategy. The investment arm of the Swiss bank said the strategy will separate it from other funds blighted by “overcrowding problems”. It comes at a time

  3. Investing - Hedge funds bet on risks in U.S. blue-chip debt, Hedge funds bets against bank credit risk paying off, Tiger Global still likes Internet names, gets pointers from Jeter[more]

    Hedge funds bet on risks in U.S. blue-chip debt From WSJ.com: Hedge funds are betting the next bond sector to crack will be the $4.5 trillion market for the safest U.S. corporate debt. New York’s Perry Capital has placed a $1 billion wager against investment-grade bonds issued by 10 comp

  4. Short Selling - Hedge fund manager Kyle Bass is shorting real estate—again, Top US hedge fund has €80m short position in Paddy Power Betfair[more]

    Hedge fund manager Kyle Bass is shorting real estate—again From Fortune.com: He also predicted the mortgage crisis in 2008. Hedge fund manager Kyle Bass, who runs Dallas-based Hayman Capital, tanked the stock of a little-known real estate financier Friday by revealing that he is shorting

  5. HFRU Hedge Fund Composite Index down -2.58% in January[more]

    Global financial markets posted sharp losses in January led by declines in Oil and global equities, though steep intra-month losses in both were narrowed by strong gains in final trading days of the month. Global equities posted steep declines for the month led by Biotechnology, Energy, Financial, E