MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, June 27, 2005 Trading Firm's Asset Management Unit May Face SEC Action Trading firm Knight Capital said its asset management unit Deephaven Capital Management may face civil action from the SEC related to PIPE investments, or private investments in public equities, the company disclosed in an SEC filing. The SEC notified Deephaven and an Deephaven employee via a Wells Notice that it may bring civil action related to "violations of anti-fraud provisions of the securities laws in connection with trading activity associated with certain Private Investments in Public Equities (“PIPEs”) during the period from June 1, 1999 through March 2004." Deephaven officials said that they and Knight officials are carefully reviewing the notice. PIPE investments represented an "insignificant portion of the assets held by the Deephaven Market Neutral Master Fund LP … the Market Neutral Fund discontinued investments in PIPEs by August 2004," wrote officials. Deephaven Capital provides asset management for high-net worth and institutional investors. Printed from: MFWire.com/story.asp?s=9967 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |