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Hedge fund paid for inside data, state says

Boston.com – Secretary of State William F. Galvin charged a Cambridge hedge fund manager with using inside information about drug trials from a so-called expert network firm to profit on trades in pharmaceutical stocks.

In a complaint filed yesterday, the state alleged that Silverman, 43, paid for nonpublic information on two stocks from Guidepoint Global, a New York expert networking firm that connects investment clients with industry specialists and company insiders.

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