Jun
19

Visium to Sell and Liquidate Funds After Insider Trading Charges

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Visium Asset Management, a multibillion-dollar hedge fund that is the focus of an insider trading case, will wind itself down.

The firm will sell one of its funds to the money management firm AllianceBernstein and return money from its remaining three funds to investors, many of which are state pension funds, according to a letter sent to investors on Friday.

Two days earlier, federal authorities filed criminal and civil securities charges against three traders at the firm, including Sanjay Valvani, a top lieutenant to the founder. The charges included insider trading and mismarking securities…

Visium to Sell and Liquidate Funds After Insider Trading Charges

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