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Pequot, Samberg paying $28M in SEC case

Pequot, Samberg paying $28M in SEC case

An investment firm and its founder and chairman, Arthur Samberg, have agreed to pay a total of $28 million to settle regulators' charges of insider trading in shares of Microsoft Corp.
The Securities and Exchange Commission announced the settlement with Pequot Capital Management Inc., whose core hedge fund was liquidated last year, and with Samberg, a prominent figure in the financial world.
They neither admitted nor denied wrongdoing in settling the SEC's civil lawsuit filed in federal court in Connecticut.
The SEC alleged that the hedge fund traded Microsoft shares on confidential information provided by a former employee of the technology giant who it later hired.


Updated : 2021-04-14 19:50 GMT+08:00