SEC charges seven in insider-trading case
Hedge fund employees accused of insider dealing on a scale similar to that of the Galleon Group case
The US Securities and Exchange Commission (SEC) has charged seven hedge fund employees with insider trading, in what it says was a $78 million scheme aimed at profiting from non-public information on performance and results at the US technology firms Dell and Nvidia. Diamondback Capital Management in Stamford, Connecticut, and Level Global Investors in Greenwich, Connecticut made $62.3 million from trading on Dell and another $15.7 million from trading on Nvidia, the SEC says.
According to the
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