New York Times – Federal regulators filed suit against a hedge fund yesterday, claiming that its manager deceived his investors by not disclosing his high concentration in a rapidly sinking stock.
The suit was filed against Wood River Capital Management and its manager, John H. Whittier. According to the suit, filed by the Securities and Exchange Commission, Mr. Whittier did not disclose to investors that he had at one point as much as 98 percent of one of his funds invested in a speculative stock with no recent history of profitability.
