Bloomberg – A Dallas hedge-fund manager and entities he owns agreed to pay $788,016 to settle U.S. government claims they made more than $500,000 by shorting shares of companies while using inside information that issuers would conduct private placements.

Edwin Buchanan Lyon IV, 42, and his companies and funds agreed to disgorge $467,728, including interest, and pay a $310,288 fine to resolve the lawsuit filed by the U.S. Securities and Exchange Commission. Lyon is managing partner and chief investment officer of Gryphon Management Partners LP.

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