Boston Globe- Dozens of hedge funds and broker-dealers are scrambling to send reams of e-mails and trading records to regulators probing suspected stock price manipulation, several sources at hedge funds said.
The Securities and Exchange Commission recently sent subpoenas to more than 50 firms concerning trading in investment banks Bear Stearns, which was rescued in March, and Lehman Brothers Holdings Inc., whose shares have been hurt badly by rumors about its financial health, said four sources, who have seen the documents but were not authorized to speak about them publicly.
Among those receiving subpoenas were investment bank Goldman Sachs Group Inc. and prominent hedge fund firms SAC Capital Advisors LLC and Citadel Investment Group.
