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Bloomberg – Pequot Capital Management Inc., once the world’s biggest hedge-fund manager, was cited in at least 44 private reports from exchange watchdogs in the past four years alerting U.S. regulators to potential insider trading, market manipulation or other misconduct, government documents show.
Trades linked to Google Inc., Cox Communications Inc., International Securities Holdings Inc., Premcor Inc. and dozens of other companies prompted surveillance units policing U.S. exchanges to make the referrals to the Securities and Exchange Commission, according to agency records obtained by Bloomberg News. Thirty-six reports flagged possible insider trading. Four indicated possible manipulation and four were labeled “other.”
New York Daily News – State Controller Thomas DiNapoli is booting 10 hedge fund managers from doing business with New York’s scandal-scarred $122 billion pension fund, the Daily News has learned.
Four of the 10 firms were listed, but not charged, in an indictment the state attorney general’s office brought against two top associates to former Controller Alan Hevesi.
The four are Consulting Services Group, HFV Management, Olympia Capital Management and Pequot Capital Management.
Bloomberg – The U.S. Securities and Exchange Commission opened a new investigation into whether Pequot Capital Management Inc., the hedge fund run by Arthur Samberg, illegally profited in 2001 by tapping inside information on Microsoft Corp., two people familiar with the matter said.
Investigators learned of documents that show former Microsoft employee David Zilkha may have obtained confidential information about the software maker, said one of the people, declining to be identified because the investigation isn’t public. Zilkha left the company in 2001 to join Pequot.
