SEC charges Homm and others in "portfolio pumping" scheme (Fund News)
The SEC charged two financial firms and three individuals with running a fraudulent "portfolio pumping" scheme to manipulate prices of small U.S. stocks, generating at least $63.7m of illegal proceeds.
Louis Dreyfus to close commodity fund to new investors (Fund News)
The Louis Dreyfus Commodities Alpha Fund, managed by Geneva-based Ian McIntosh, stopped accepting new money from investors after assets advanced 20-fold in about two years, according to people close to the fund.
Hedge fund manager Chris Shumway told investors on Friday that he is returning all of their money in a few weeks, becoming the latest prominent stock picker to essentially shut down his firm.