Canadian Hedgefund-Manager ordered to pay $300m in compensation (Fund News)
A US judge ordered Paul Eustace, a Canadian hedge fund manager, to pay $279m to compensate investors in Philadelphia Alternative Asset Management’s four failed funds for losses while fining him and his company $20.8m.
U.S. Securities and Exchange Commission Chairman Christopher Cox said in an interview that his agency will propose new rules aimed at curtailing manipulative short sales of stocks in the next few weeks.