Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

News Archive

Read More Industry News >

SEC Launches Insider Trading Investigation Against George Soros

Aug 29, 2013
Jing Chen

The Securities and Exchange Commission has launched an insider trading investigation into trades of Herbalife by legendary hedge fund manager George Soros’ family office days after a complaint from Pershing Square Capital’s Bill Ackman.

The New York Post reported that a SEC lawyer has contacted at least one person who spoke with Soros Fund Management portfolio manager Paul Sohn, who oversees the firm’s investment in weight management product Herbalife.

The article also said that Ackman filed a complaint against Soros and unidentified co-conspirators, alleging that Soros Fund broke insider rules by tipping managers at other firms about its plan to buy shares of Herbalife.

Ackman made headlines late last year when he revealed that he made a $1 billion short against Herbalife, calling the company a “pyramid scheme.”

Soros Fund Management transitioned into a family office after it returned all outside capital last July to avoid reporting requirements under the Dodd-Frank Act.

Read More Industry News >


Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More