Einhorn, Greenlight Fined $11.2 Million in UK
The UK’s equivalent of the Securities and Exchange Commission, the Financial Services Authority, has fined David Einhorn and his hedge fund, Greenlight Capital, a total of $11.2 million for what the FSA calls “market abuse.” The amount includes the return…
The UK’s equivalent of the Securities and Exchange Commission, the Financial Services Authority, has fined David Einhorn and his hedge fund, Greenlight Capital, a total of $11.2 million for what the FSA calls “market abuse.” The amount includes the return of the ill-gotten gains.
The fines are the result of trades made by Greenlight in 2009 which enabled the fund to avoid losses of about $9 million. The Wall Street Journal has a rundown of the bare facts here.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
