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A $7 billion hedge fund says it's being investigated by the SEC and the US Department of Justice
A $7 billion hedge fund says it's being investigated by the SEC and the US Department of Justiceby Julia LaRoche at Business Insider
http://www.businessinsider.com/visium-letter-about-investigation-2016-3
"SNIP............
Visium Asset Management, the $7 billion healthcare-focused hedge fund, told investors in a letter that it's being investigated by the US Department of Justice and the US Securities and Exchange Commission (SEC).
The fund's founder, Jacob Gottlieb, wrote in a March 7 letter:
They have requested information from several years ago regarding the valuation of certain securities in the firm's credit fund which was closed in 2013. Additionally, they have requested information regarding the trading of certain securities, including the use of a consultant who stopped providing services to the firm in 2011. We are providing the requested information to the Government.
Gottlieb also wrote that the company is unable to discuss the specifics of the investigations while they are ongoing.
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