Unstructured Finance

For one Level Global founder, the party is over

January 19, 2012

By Katya Wachtel

For the two founders of FBI-raided and since-shuttered hedge fund firm Level Global, life could not be more different.

Steven Cohen in his own words

December 14, 2011

By Matthew Goldstein and Jennifer Ablan

The thing about deposition excerpts—even lengthy ones—is that some of the tantalizing material gets left on the cutting room floor. And that’s certainly the case with hedge fund billionaire Steve Cohen’s two-days worth of  testimony in the long-running Fairfax Financial litigation.

Stevie Cohen Unplugged

By Jennifer Ablan
December 13, 2011

By Jennifer Ablan

Steven A. Cohen, one of the world’s most successful and secretive billionaire hedge fund managers, shared some of his thinking on insider trading, something his worst critics have alleged SAC Capital knows a thing or two about.

Steve Cohen’s forbidden transcript

August 2, 2011

By Matthew Goldstein

Hedge fund titan Steve Cohen is taking steps to appear more open these days.  Over the past year or so, he’s been showing up at industry conferences, charity events–even allowing himself to be photographed with his wife for a glossy spread in Vanity Fair magazine.

Kinnucan v. Ainslie

July 7, 2011

By Matthew Goldstein and Svea Herbst-Bayliss

John Kinnucan, a research consultant who’s been linked to an ongoing insider trading probe, claims Maverick Capital founder Lee Ainslie has stiffed him by not paying all of the hedge fund’s bill from last year.

No comfort for hedgies

May 28, 2011

By Matthew Goldstein

The news that federal investigators had been gathering evidence of potentially improper trading against one of the founders of Loch Capital Management since early 2009 should make some hedge fund managers nervous–especially ones whose funds were big users of expert network firms like Primary Global Research.

Grassley the inquisitor

May 24, 2011

Sen. Chuck Grassley wants to know what the Securities and Exchange Commission did with complaints it received about potential improper trading by Steve Cohen’s SAC Capital.

Deals wrap: Takeda offers $12 billion for rival Nycomed

May 12, 2011

Takeda Pharmaceutical is in talks to buy privately-held Swiss rival Nycomed for more than $12 billion, said sources with direct knowledge of the matter. Japan’s largest drugmaker is seeking to boost its presence in Europe and emerging markets, as well, the acquisition would help them gain a lung disease drug from Nycomed which has just been approved in the U.S. Japanese drugmakers have been actively pursuing acquisitions to boost growth as they face the loss of patent protection on key medicines.

Deals wrap: Fiat speeds toward control of Chrysler

April 21, 2011

A new model of the Fiat 500 is pictured on display at the launch of Chrysler's flagship showroom in Los Angeles November 16, 2010. REUTERS/Mario Anzuoni Fiat will pump another $1.3 billion into Chrysler this quarter as it moves closer to its target of owning a controlling stake in the U.S. automaker. The deal will take Fiat’s holding in the company to 46 percent, just 5 percent shy of the 51 percent it needs to assume full control.

Deals wrap: What drives insider trading culprits?

April 7, 2011

Paul J. Fishman (C), United States Attorney for the District of New Jersey, announces insider trading charges against Garrett Bauer and Matthew Kluger during a news conference at the U.S. Attorney's office in Newark, New Jersey April 6, 2011. Bauer and Kluger were charged Wednesday with running a 17-year conspiracy to trade on corporate merger secrets stolen from three of the nation's most prominent law firms, in one of the largest U.S. insider trading cases on record. REUTERS/Mark Dye The U.S. government’s crackdown on insider trading continues. On Wednesday, two men were accused by federal prosecutors of carrying out a 17-year conspiracy to trade on corporate merger secrets stolen from three major U.S. law firms.