WSJ – The Wall Street Journal reports: The founder of California hedge fund Spherix Capital LLC and its former president will pay more than $2 million to settle a civil insider-trading lawsuit brought by the U.S. Securities & Exchange Commission, according to a court filing made public Monday.
In a letter dated Jan. 20, Valerie Szczepanik, a lawyer for the SEC, said Ali T. Far, Spherix’s founder, and its former president, Richard Choo-Beng Lee, have agreed to pay disgorgement and prejudgment interest totaling $1.43 million and to pay a civil penalty of $667,809. The men also have agreed to be permanently enjoined from committing further violations of federal securities laws.
