Probes tarnish hedge funds

New Jersey Business – Joseph Contorinis was in a mood to celebrate his big score, so he made reservations for dinner at one of Manhattan’s most expensive restaurants.

The tab for sushi and sake at Masa came to $1,150, but Contorinis could afford it. The hedge fund manager had just turned a $7 million stock-trading profit, court filings show, thanks to inside information about secret plans for a multibillion-dollar takeover of grocery giant Albertson’s.

Read Complete Article

This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply