(Reuters) A federal judge has dismissed the central claims of a U.S. Securities and Exchange Commission lawsuit accusing a New Jersey hedge fund firm of “grossly” exaggerating the value of its investments to boost fees during the global financial crisis. In a 79-page decision on Thursday, U.S. District Judge George Daniels in Manhattan found “no material evidence of fraud or negligence” to support SEC claims that Yorkville Advisors LLC, founder and President Mark Angelo and Chief Financial Officer Edward Schinik inflated asset values.
Judge Axes Key SEC Claims That New Jersey Hedge Fund Firm Inflated Assets
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