David Einhorn and his firm, Greenlight Capital, have been fined £7.2m by UK regulators for trading ahead of a 2009 equity fundraising by Punch Taverns.
Harbinger backed LightSquared calls for new tests of its mobile network (Fund News)
LightSquared, the telecom start-up backed by hedge fund manager Philip Falcone, called for new tests of its mobile system to examine interference concerns after it accused the latest government tests of being "rigged."
Hedge fund consultant sentenced to 2 1/2 years in prison (Fund News)
A former hedge fund consultant was sentenced Wednesday to 2 1/2 years in prison for insider trading, a crime that a judge said seemed to be growing in prevalence. U.S. District Judge Jed Rakoff noted the need for deterrence as he sentenced James Fleishman for his September conviction by a jury on insider trading charges.
Boyer Allan shuts China, Asia Hedge Funds (Fund News)
Boyer Allan Investment Management is shutting two of its hedge funds after losses and a fall in assets this year, sources familiar with the matter said, lengthening the list of Asia focused funds that have closed this year.