Tue, May 5, 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. SEC charges funds of hedge funds Alpha Titans, executives, and auditor for improper expense allocations[more]

    Update: Please note the important updated information at the end of the article.The Securities and Exchange Commission today announced charges against a Santa Barbara, Calif.-based hedge fund advisory firm and two executives involved in improper allocations of fund assets to pay undisclose

  2. Swiss group Pictet releases first public annual and financial reports[more]

    Benedicte Gravrand, Opalesque Geneva: Pictet Group, a Swiss private bank, has just released its first public annual report and financial report since it opened for business in Geneva in 1805. I

  3. Opalesque Exclusive: Carne establishes non-EU ManCo in Jersey[more]

    Benedicte Gravrand, Opalesque Geneva: For those managers who will not domicile their fund in the European Union (EU) and yet want to distribute it in the EU – especially the UK –, going under the wing of an AIFMD-compliant ManCo on the Channel Islands could be one of the ways to do it. Ch

  4. Opalesque TV: Aequam Capital: Asset management industry will be mainly quantitative going forward[more]

    Benedicte Gravrand, Opalesque Geneva: Before starting his boutique in 2010, Arnaud Chretien, co-founder and CIO of Aequam Capital, worked ten years as a market trader and 18 years as a quantitative and systematic fund manager for Soc

  5. Class-action lawsuit accuse hedge fund Standard General of holding American Apparel hostage[more]

    Komfie Manalo, Opalesque Asia: A shareholder class-action suit filed on Wednesday accused New York-based hedge fund Standard General of holding American Apparel hostage. It would reportedly reap huge benefits if the clothing company declared bankruptcy. Standard General is the controlling sto

 

banner