Hedge Funds

Research firms, hedge funds under fire

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The New York Attorney General is pressing ahead with an investigation to determine whether hedge funds acquired inside information about publicly traded companies from consultants supplied by Vista Research and Gerson Lehrman Group.

The attorney general's office issued subpoenas to Vista and GLG in recent weeks as well as to several companies, including Best Buy, Circuit City Stores and First Data. The attorney general also issued subpoenas to hedge fund clients of the research firms, according to the Wall Street Journal, which reported the news earlier this week.

The U.S. Securities and Exchange Commission is also investigating whether several hedge