Mon, Mar 30, 2015
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. Other Voices: Does the hedge fund industry benefit society?[more]

    This article was authored by Don Steinbrugge, Chairman of Agecroft Partners, a US-based global consulting and third party marketing firm for hedge funds. It is no secret that the hedge fund industry is viewed negatively by a la

  2. Private credit comes into focus for investors[more]

    Bailey McCann, Opalesque New York: As investors look for a way out of the low yield/no yield environment, private credit is becoming an increasingly attractive asset class, according to a white paper from Bayshore Capital Advisors. Private credit has grown steadily since the financial crisis as

  3. M&A - Hedge funds no longer attractive targets for banks, reinsurers, Blackstone buys stake in Christopher Pucillo’s Solus event-driven hedge fund[more]

    Hedge funds no longer attractive targets for banks, reinsurers From Institutionalinvestor.com: Swiss RE, the world’s second-largest reinsurer, is looking to sell its 15 percent stake in Jersey, Channel Islands–based hedge fund firm Brevan Howard Asset Management. Morgan Stanley reported

  4. Opalesque Radio: Threadneedle expects continuing equity volatility this year[more]

    Benedicte Gravrand, Opalesque Geneva: Investors should expect more volatility, which is signaling a "slow moving" top to the market, KKM Financial’s founder and CEO Jeff Kilburg told CNBC on Monday. And this volatility is going

  5. Hedge funds show strong performance of 2.52% so far in 2015[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry got off to a strong start in 2015 "completely unmindful" of the poor performance last year, according to data provider Preqin. According to Preqin, following a year which saw the average he

 

banner