Hedge Funds

SEC sues Wood River, claiming deceit


The U.S. Securities and Exchange Commission on Thursday filed suit against Wood River Capital Management, claiming that the hedge fund firm's manager deceived investors by failing to disclose a highly concentrated investment in a speculative stock whose price had fallen steeply. The SEC also subpoenaed records from Wood River's Cayman Islands fund.

Wood River was launched in 2003 by John Whittier, 38, a former media and telecom equity analyst for Donaldson, Lufkin & Jenrette. The firm, with offices in Ketchum, Idaho, and San Francisco, formed an offshore fund in the Cayman Islands this year.

Whittier's company has been the