SEC Charges Conn. Hedge Fund With Insider Trading
Fried Frank and Wachtell played key roles brokering a $28 million settlement that resolves a long-simmering allegation that Connecticut hedge fund Pequot Capital Management committed insider trading in Microsoft securities in 2001, according to Securites and Exchange Commission officials. The SEC filed suit against Pequot and its chairman, Arthur Samberg, on Thursday, announcing at the same time that Pequot and Samberg agreed to pay $28 million combined in disgorged profits and penalties to settle the case.
