Industry News

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

To submit industry-related press releases or request feature ideas please contact editor@evestment.com

News Archive

Read More Industry News >

Retired Hedge Fund Consultant Accused of Insider Trading

Oct 31, 2013
Jing Chen

Former hedge fund consultant Dennis Rosenberg has been charged by regulators of insider trading regarding children’s clothing company, Carter’s.

The SEC announced in a statement Tuesday that Rosenberg has been ordered to disgorge the approximate $500,000 he made from the illegal trades and pay an additional $108,000 fine.

The SEC alleged that Rosenberg passed insider tips he received from a Carter’s executive to two undisclosed hedge fund managers. Rosenberg, a retired hedge fund investment consultant and market analyst who had previously covered the stock of Carter's, was also accused of trading in advance of the clothing chain’s public disclosure regarding its earnings which earned him approximately $500,000 in illegal profits.

The two hedge fund managers earned a total of $2 million using Rosenberg’s tips.

Sources:

Read More Industry News >

Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More