This Skeptical Judge Keeps Tossing Hedge Fund Fraud Convictions (Bloomberg)
The Platinum Partners fund manager convicted last month by a jury of rigging a bondholder vote may have an unlikely ally in his quest to stay out of jail — the federal judge at his trial. US District Judge Brian Cogan has already voided two jury convictions for Platinum Partners executives. Now, the veteran judge has invited lawyers for Daniel Small, who was found guilty of securities fraud and conspiracy, to submit arguments by Friday on why he should set aside that conviction too.
Cigrek Capital Launches EU Platform for Digital Assets Hedge Funds (Hedge Week)
Cigrek Capital has launched a fully-regulated, EU-based solution for managers of digital assets strategies seeking distribution to institutional investors. Cigrek’s solution has been designed specifically for managers of established digital funds who are seeking alternative distribution venues. The new umbrella is based on a fully regulated AIF limited partnership structure and has 10 cells immediately available for use by fund managers. The structure has not previously been available for digital assets managers.
Oil and Gas Investor Silver Hill Raises Over $1bn for First Institutional Fund (Opalesque.com)
Oil and gas investment specialist Silver Hill Energy Partners has raised more than $1bn for its first institutional private equity fund – Silver Hill Energy Partners II. According to a recent release from the Dallas-based firm, the oversubscribed fund has received total capital commitments of $1.02 billion from institutional investors comprising endowments, pension funds, medical and family foundations, and family offices. Silver Hill Energy Partners II is focused on the direct acquisition and development of operated onshore oil, natural gas, and related infrastructure assets in premier basins across the U.S.
Thursday 9/22 Insider Buying Report: HSON, DBRG (Nasdaq.com)
At Hudson Global, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Jeffrey E. Eberwein purchased 1,500 shares of HSON, for a cost of $34.80 each, for a total investment of $52,200. Investors can buy HSON even cheaper than Eberwein did, with shares changing hands as low as $34.20 in trading on Thursday — that’s 1.7% below Eberwein’s purchase price. Hudson Global is trading up about 0.3% on the day Thursday. Before this latest buy, Eberwein bought HSON on 16 other occasions during the past twelve months, for a total investment of $433,103 at an average of $22.46 per share. And on Tuesday, Chief Operating Officer Liam Stewart purchased $50,348 worth of DigitalBridge Group, purchasing 3,300 shares at a cost of $15.26 each. This buy marks the first one filed by Stewart in the past year. DigitalBridge Group is trading up about 0.6% on the day Thursday.
Tipper, Trader Settle Insider Trading Charges Involving 18 (Lexology)
Insider trading has long been a staple of the Enforcement Division. Since the earliest days of the Division, and even prior to its formation in the early 1970s, the Commission has brought a series of cases that the courts used to etch the elements of the violation beginning with the a breach of duty tied to the broad language of Exchange Act Section 10(b). The most recent example of this evolution may be the first insider trading case based on crypto assets, SEC v. Wahi, Civil Action No. 2:22-cv-01009 (W.D. Wash. Filed July 31, 2022).
Around $30 Million Bet On Medpace Holdings? 3 Stocks Insiders Are Buying (Benzinga)
Medpace Holdings: The Trade: Medpace Holdings, Inc. (MEDP) CEO August J Troendle acquired a total of 188,238 shares an average price of $158.38. To acquire these shares, it cost around $29.81 million. Braze: The Trade: Braze, Inc. (BRZE) Director Matthew Jacobson acquired a total of 36,747 shares at an average price of $35.26. To acquire these shares, it cost around $1.3 million.
