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SEC subpoenas over 50 hedge-fund advisers: report

Reuters- The U.S. Securities and Exchange Commission (SEC) has sent subpoenas to more than 50 hedge-fund advisers as it investigates whether individuals spread false rumors to manipulate shares in two Wall Street firms, The Wall Street Journal said, citing a person familiar with the matter.

The subpoenas, sent as recently as Monday, are seeking trading and communications data related, the person told the paper.

Rumors have been blamed for the collapse of investment bank Bear Stearns and for the 40 percent slide in Lehman shares this month.

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