301. More Traders Drawn Into Mutual-Fund Probe.
- Author
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Sender, Henny, Cohen, Laurie P., Zuckerman, Gregory, Mollenkamp, Carrick, Smith, Randall, and Lauricella, Tom
- Subjects
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SECURITIES trading , *INVESTIGATIONS , *MUTUAL funds , *HEDGE funds , *INVESTORS , *AFTER hours trading systems , *ELECTRONIC trading of securities , *GOVERNMENTAL investigations , *MARKET timing - Abstract
Reports that a former hedge-fund manager at Canary Capital Partners LLC, Andrew Goodwin, is emerging as a key figure into the investigation by New York (State) Attorney General Eliot Spitzer into whether investment funds improperly traded mutual-fund shares. After hours trading of stocks claimed by Goodwin, who departed Canary in 2001 and runs Goodwin Trading Corp.; Comments from Goodwin's lawyer, indicating his client does not engage in late trading practices; Number of additional hedge funds that have been subpoenaed in connection with the market-timing trades that occurred in Spitzer's allegations; Bank of America Corp.'s role in the Canary allegations; Role of Edward J. Stern, of Canary Capital, in the trades; Indications that the scope of the investigation is growing to include more hedge funds.
- Published
- 2003