Insider Trading Investigation

Insider Trading Investigation

Insider Trading Investigation Widens to Bigger Firms

The insider trading investigation that led to raids on three hedge funds, Level Global Investors LP, Diamondback Capital Management LLC, and Wellington Management Co. The Manhattan U.S. Attorney's Office has issued subpoenas to big hedge funds SAC Capital Advisors and Citadel LLC as well as a couple of large mutual funds.
Hedge-fund giants SAC Capital Advisors and Citadel LLC, big mutual-fund company Janus Capital Group Inc. and Wellington Management Co., one of the nation's biggest institutional-investment firms, have received subpoenas from the Manhattan U.S. Attorney's office seeking trading, communications and other data as part of a broad criminal investigation, according to people familiar with the matter.

The Federal Bureau of Investigation also recently questioned an account manager at Primary Global Research LLC, a California company that provides "expert-network" services to hedge funds and mutual funds, people familiar with the matter say.

Such expert-network firms set up meetings and arrange calls between traders seeking an investing edge and current and former managers from hundreds of companies. The FBI is seeking information about a Primary Global consultant and his hedge-fund clients, these people say. Source

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