{"id":24016,"date":"2011-08-11T08:20:46","date_gmt":"2011-08-11T12:20:46","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=24016"},"modified":"2011-08-11T08:33:46","modified_gmt":"2011-08-11T12:33:46","slug":"sec-settles-with-hedge-fund-manager-over-hepatitis-drug-study-leak","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2011\/sec-settles-with-hedge-fund-manager-over-hepatitis-drug-study-leak.html","title":{"rendered":"SEC Settles With Hedge Fund Manager Over Hepatitis Drug Study Leak"},"content":{"rendered":"<p>New York (HedgeCo.net) &#8211; The SEC has agreed to settle a lawsuit with former FrontPoint Partners LLC hedge fund manager Joseph F. \u201cChip\u201d Skowron, Bloomberg reported this morning.<a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/registered-nurse-symbol-medical_symbol_2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-24026\" title=\"registered nurse symbol-medical_symbol_2\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/registered-nurse-symbol-medical_symbol_2-246x300.jpg\" alt=\"\" width=\"133\" height=\"162\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/registered-nurse-symbol-medical_symbol_2-246x300.jpg 246w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/registered-nurse-symbol-medical_symbol_2.jpg 266w\" sizes=\"auto, (max-width: 133px) 100vw, 133px\" \/><\/a><\/p>\n<blockquote><p>&#8220;Skowron surrendered in April to Federal Bureau of Investigation agents in New York to face charges of conspiracy, securities fraud and obstruction. Prosecutors accused him of obtaining information from an insider about hepatitis C drug trials enabled Greenwich, Connecticut-based FrontPoint to avoid more than $30 million in losses.<\/p>\n<p>&#8220;The settlement would \u201cfully resolve the SEC\u2019s claims against defendant,\u201d lawyers for the SEC and Skowron said in a court filing dated today.&#8221;<\/p><\/blockquote>\n<p>The SEC had alleged that Skowron, a former portfolio manager for six health care-related hedge funds affiliated with FrontPoint Partners LLC, sold hedge fund holdings of Human Genome Sciences Inc. (HGSI) based on a tip he received unlawfully from a medical researcher overseeing the drug trial.<\/p>\n<p>HGSI\u2019s stock fell 44 percent after it publicly announced negative results from the trial of Albumin Interferon Alfa 2-a (Albuferon), and the hedge funds avoided at least $30 million in losses.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; The SEC has agreed to settle a lawsuit with former FrontPoint Partners LLC hedge fund manager Joseph F. \u201cChip\u201d Skowron, Bloomberg reported this morning. &#8220;Skowron surrendered in April to Federal Bureau of Investigation agents in New [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-24016","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=24016"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24016\/revisions"}],"predecessor-version":[{"id":24024,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/24016\/revisions\/24024"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=24016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=24016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=24016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}