Beacon Rock Capital reaches plea agreement

Fri Mar 23, 2007



Beacon Rock Capital, a Portland, Ore.-based hedge fund firm, has reached a plea agreement with U.S. Attorney Patrick Meehan after a yearlong investigation into the firm’s role into allegedly deceptive market timing activity.

According to Beacon Rock’s attorney, Scott Resnik of New York law firm Katten Muchin Rosenman, the firm has agreed to disgorge about $475,000 in gains made through trades that took place before 2003, when an investigation by Elliot Spitzer, then the New York Attorney General, alerted hedge funds to the illegality of such trading maneuvers.

Resnik said...

TAKE A FREE TRIAL

The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.

Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now