Elliott Management Investigated On Charges of Insider Trading.
January 7, 2013 - 8:16pm
By ValuewalkArgentina must be loving this. Elliott Management, Paul Singer’s $20 billion hedge fund, has come under scrutiny of French authorities on charges of insider trading, reports Financial Times. Apparently, the fund engineered trading in the shares of Autoroutes Paris-Rhin-Rhône, back in 2010, to boost the share price. Elliott sold a 13.7 percent stake in the toll road company, at a price of 900 million euros, to another construction company.Autorité des Marchés Financiers, the French equivalent of SEC, is probing into the events that lead up to the sale. The accusation is that Elliott deliberately manipulated the trading to raise the share price and bagged aContinue reading this article »