Charlie Gasparino reports that Citadel Investment Group got a “wide ranging subpoena” from the Federal Government. Gasparino also says he has learned that “two other hedge funds received subpoenas” as well.
Here are a couple of excerpts from Gasparino’s report: Courtesy of Fox Business News
On news that hedge fund Citadel is being investigated by the Federal Government:
“They got a subpoena. It’s the same subpoena that sources tell FOX Business Network that Steve Cohen over at SAC Capital got. It’s a wide ranging subpoena and it dates back to 2008 asking for information on certain stocks. From what I understand, it’s not just healthcare stocks, which has been a primary focus.”
On other hedge funds that have received subpoenas:
“FOX Business Network has learned two other hedge funds have received subpoenas. We have put calls into Millennium Capital Management and Maverick Capital Management and we are waiting to hear back to them.”
Update:
On November 23, 2010, Wall Street Pit posted the above article where we quoted a Charlie Gasparino report that, in part, stated the following: “FOX Business Network has learned two other hedge funds have received subpoenas. We have put calls into Millennium Capital Management and Maverick Capital Management and we are waiting to hear back to them.”
Following the report, Wall Street Pit was alerted that Mr. Gasparino was mistaken in his report that Maverick Capital Management [MCM] received a subpoena.
From MCM:
Maverick has not received a subpoena in connection with the recent insider trading probe and has contacted Mr. Gasparino to inform of this.
Mr. Gasparino has agreed to make an appropriate correction.
So, again to our readers: Maverick CM has not received a subpoena in connection with the recent insider trading investigation.
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