SEC opens formal investigation of PAAMCO

Fri Oct 29, 2010

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As the founders of Pacific Alternative Asset Management Company work out how to handle Judge Richard J. Sullivan's recent judgement on their dispute with Donald Sussman and Franklin Realty Holdings, the $16.6 billion California-based fund of hedge funds now has another curve ball to deal with. According to a letter to investors, the enforcement division of the SEC's New York regional office have opened a formal investigation.

Following the judge's...

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