Harbinger lost $130m on shares deposited with Lehman (Fund News)
Hedge fund Harbinger Capital Partners said on Tuesday it had lost more than a quarter of its stake in sugar maker Tate & Lyle as it has been unable to reclaim them from collapsed bank Lehman Brothers.
Raj Rajaratnam charged with insider trading (Fund News)
Billionaire investor Raj Rajaratnam and present and former executives of Bear Stearns, IBM, Intel and McKinsey were charged yesterday in an alleged insider trading scheme that US prosecutors called the biggest ever involving hedge funds.
Amaranth Advisors sued Touradji Capital Management Monday, alleging breach of a contract the hedge fund firms had signed in 2006 as Amaranth was trying to survive massive natural-gas trading losses.