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."
Avesta Capital returns money to investors (Headlines)
Avesta Capital Advisors LLC, the $600m equity hedge fund run by William Tung, is giving back outside capital after almost a decade in business, according to a letter sent to investors.
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.