Company News, Financial News

SEC Charges Insider Trading Over Herbalife

Ackman's analyst caught up in controversy.

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By: TOM BRANNA

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The Securities and Exchange Commission has charged two men with insider trading after they learned that hedge fund manager Bill Ackman was betting against Herbalife Ltd.'s stock. The SEC said Filip Szymik, 28, was told by his roommate, then an analyst at Ackman's hedge fund, Pershing Square Capital Management, that Ackman was going to announce a negative view of Herbalife Ltd. The roommate was not named by the SEC because he is not accused of wrongdoing. The SEC said that Szymik then...

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