Maxam Absolute Return Fund LP, a hedge fund, on Friday said it filed a lawsuit against auditors Goldstein Golub Kessler LLP and McGladrey & Pullen LLP to recover losses suffered by its investors in investments held by Bernard L. Madoff Investment Securities LLC.
Paul Touradji, founder of Touradji Capital Management, a hedge fund firm with $3.5 billion in assets under management, is being sued for allegedly witholding bonuses from employees.
The Senate Thursday introduced the Hedge Fund Transparency Act of 2009, which, most notably, would require hedge funds to register with the Securities and Exchange Commission. It would also require them to adopt anti-money laundering programs.
A hedge fund with a major stake in Miami-based Noven Pharmaceuticals has sold $1.04 million worth of its shares – and did so for a lower price per share than it received in a similar transaction a month ago.
Jan. 30 (Bloomberg) -- Goldman Sachs Group Inc.’s Jens Nordvig-Rasmussen , a managing director and senior currency strategist, said he’s leaving the largest U.S. securities firm to work for a hedge fund.
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