Hedge Funds

Durus investors settle with Allos Therapeutics


Investors in Durus Life Sciences Master Fund settled last month with one of the companies in which former manager Scott Sacane amassed huge stakes before they wrested control of the fund from him. On October 27, Allos Therapeutics announced the repayment of $5.1 million in profits that Durus made in violation of the "short-swing" rule of the Securities Act of 1934, which is meant to prevent large holders of a company's equity from exploiting short-term trades of the stock.