Harbinger's Main Fund Declined 47% Last YearProminent hedge-fund manager Philip Falcone's Harbinger Capital Partners lost 47% last year in its biggest fund on a hefty markdown on the value of its largest investment in wireless network LightSquared.
Judge Denies Madoff Trustee's Request to Appeal Mets RulingIn another victory for the owners of the New York Mets, a federal judge has denied a request to appeal an earlier court ruling that limited how much money a court-appointed trustee recovering funds lost in Bernard Madoff's Ponzi scheme was allowed to seek from them.
Manager Tung Shutting Avesta, Returning to MooreHedge-fund manager William R. Tung told investors Thursday he would return their money and go back to his old firm, after two consecutive years of losses.
Prosecutors Likely to Expand Gupta AllegationsFederal prosecutors said they will likely expand the case against a former Goldman Sachs director charged with leaking confidential information in an insider-trading probe.
Former 'Expert-Network' Employee Gets 2 ½ YearsA former sales manager at an "expert-network" firm was sentenced to 2 ½ years in prison after he was convicted of conspiracy charges earlier this year.
SEC Puts Falcone, Harbinger in SightsHedge-fund manager Philip Falcone was threatened with possible civil-fraud charges from the top U.S. securities regulator, the latest in a series of setbacks that have buffeted the investor since he rocketed to stardom in 2007.
Highbridge Makes Arjun Menon Sole Asia HeadHighbridge Capital Management has laid off "a few" members of its equities strategy team, including Asia joint head Shyan Wen Lim, leaving co-chief Arjun Menon as the sole regional boss.
Money Manager Charged By U.S.U.S. prosecutors have accused a London asset manager of overstating the value of sovereign debt held by his former hedge fund near the height of the global financial crisis.
Former Madoff Trader Plans to Plead GuiltyDavid L. Kugel is expected to plead guilty next week to conspiracy and other charges in the multibillion-dollar fraud, prosecutors said.
Citadel Loses Key Executive RussellTop Citadel Investment Group executive Joe Russell, a key architect of the hedge fund's investments in E*Trade and hedge fund Sowood Capital, has resigned from the firm.
Wood's Fund Takes a BeatingThe two-year-old hedge fund founded by Jonathan Wood, a former UBS trader, is down about 85% from its inception through July.
Ospraie and Other Hedge Funds TumbleFalling commodities prices have pulled some hedge funds deep into negative territory in recent weeks, and the Ospraie Fund is among the most prominent losers.
Hedge Fund Seeks Change at NZ TelecomElliott International said it will nominate two new candidates to NZ Telecom's board because of dissatisfaction with the company's performance, and it will push for a structural separation of the company.
Hedge-Fund Sluggers Strike OutHedge funds appear set to post their worst monthly performance in six years as strategies run into trouble. Some previously highflying funds are sustaining declines in the double digits, and several managers are down more than 20% for the year.
Van Wagoner to Quit Growth FundThe manager of Van Wagoner Emerging Growth, the worst-performing U.S. actively managed stock fund over the past 10 years, plans to quit.
Should Hedge Funds Take Blame?Many on Wall Street have urged regulators to step up vigilance on hedge funds. Some say the assaults are little more than the latest chapter in a long history of financial scapegoating.
Funds Put Four on CSX BoardTwo hedge funds seeking to overhaul CSX succeeded in getting four board seats, a preliminary report found.
Hedge Funds Subpoenaed in SEC ProbeThe SEC has sent subpoenas to more than 50 hedge-fund advisers as part of its investigation into whether individuals spread false rumors to manipulate shares of Bear Stearns and Lehman Brothers.
