Puerto Rico Judge Says No to Insider-Trading Probe, Calling Accusations ‘Sensational’ (The Wall Street Journal)
The judge presiding over Puerto Rico’s bankruptcy case declined to authorize a probe into hedge funds that accumulated government bonds during restructuring negotiations, calling suggestions of insider trading by rival creditors “sensational and largely speculative.” Judge Laura Taylor Swain at a hearing in the U.S. District Court in Puerto Rico said she had no basis to order the type of independent investigation proposed by bond guarantor MBIA Inc. into billions of dollars in Puerto Rico bond trades made by hedge funds since…
First Quarterly Inflows Since 2018 (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge funds registered net inflows for the first time since the first quarter of 2018, according to a report released by Hedge Fund Research last week. Macro strategies led the hedge fund industry’s estimated net inflows of $13.0 billion in the third quarter, which brought the industry’s assets under management to $3.31 trillion. “Investors allocated new capital to hedge funds in 3Q as a result of both defensive outperformance through the coronavirus-driven volatility in early 2020, as well as opportunistic gains through the uneven financial market recovery in the second and third quarters,” Kenneth J. Heinz, President of HFR, stated in last week’s report.
A Director at Tesla is Exercising Options (Analyst Ratings)
Yesterday it was reported that a Director at Tesla (TSLA), Antonio Gracias, exercised options to sell 155,000 TSLA shares at $50.53 a share, for a total transaction value of $65.78M. Following Antonio Gracias’ last TSLA Sell transaction on February 24, 2020, the stock climbed by 239.3%.
The Chairman & Chief Executive Officer of XPEL (NASDAQ: XPEL) is Selling Shares (Analyst Ratings)
Yesterday, the Chairman & Chief Executive Officer of XPEL (XPEL), Ryan L Pape, sold shares of XPEL for $210.4K. In addition to Ryan L Pape, 16 other XPEL executives reported Sell trades in the last month. Over the last month, Ryan L Pape has reported another 4 Sell trades on XPEL for a total of $836K.
Individual Settles Insider Trading Case with Sebi; Pays Rs 1.38 cr Towards Settlement Charges (Economic Times)
New Delhi: An individual has settled with markets regulator Sebi a case of alleged insider trading in the shares of Manappuram Finance Ltd (MFL) after paying Rs 1.38 crore towards settlement charges. Sebi agreed to settle proposed adjudication proceedings in the case, pertaining to alleged violation of insider trading norms, after it was approached by Suarabh Mukherjea, with a plea under the settlement regulations “without admitting or denying the findings of fact and conclusion of law”. In a settlement order, Sebi said it has disposed of the adjudication proceedings initiated against the applicant, Mukherjea.
Ossoff Blames Sen. Perdue for Insider Trading Amid Coronavirus Pandemic (NBC News)
Jon Ossoff criticized Sen. David Perdue for being under investigation for insider trading as the state dealt with the coronavirus pandemic. “You’re attacking the health of the people you represent” Ossoff told Perdue during Georgia’s Senatorial debate.
