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Ex Front Point manager ordered to pay $10.2m to Morgan Stanley
 
  Hedgeweb - THU, MAR 22 2012
Funds & Investment An former hedge fund manager was ordered to pay $10.2m to Morgan Stanley Inc. after he admitted last year to insider trading at FrontPoint Partners, a hedge fund previously owned by the Wall Street firm, a judge has ruled.

Joseph Skowron III, a former manager at hedge fund FrontPoint Partners, admitted last year that he directed several FrontPoint healthcare funds to sell shares in biotechnology company Human Genome Sciences Inc. in 2008 based on inside information he obtained about clinical drug trials from a French doctor. The move allegedly allowed him to avoid about $30m in trading losses, federal prosecutors said.

 
 
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