{"id":5372,"date":"2012-10-18T00:00:00","date_gmt":"2012-10-18T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2012\/10\/institutional_investment_fraud_2"},"modified":"2022-04-28T13:55:32","modified_gmt":"2022-04-28T18:55:32","slug":"institutional-investment-fraud-2","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/institutional-investment-fraud-2\/","title":{"rendered":"Institutional Investment Fraud Roundup: Ex-Analyst Guilty in $61.8M Insider Trading Scheme, SLUSA Precludes Investor Class Action Over Hedge Funds that Failed After Madoff Ponzi, &#038; Dark Pool Operator Settles Subscriber Info. Breach Charges"},"content":{"rendered":"<p>Jon Horvath, an ex-research analyst at a New York hedge fund, has pled guilty to two counts of <a href=\"https:\/\/www.investorlawyers.com\/\">securities fraud <\/a>and one count of conspiracy to commit securities fraud related to a $61.8 million <a href=\"https:\/\/www.investorlawyers.com\/\">insider trading<\/a> scheme. Several other former hedge fund managers and analysts from different investment firms and hedge funds are also accused of allegedly trading key, nonpublic information about NVIDIA Corporation (NVDA), Dell, Inc. (Dell), and other publicly traded technology companies between 2007 and 2009. The information was obtained indirectly and directly from employees that worked at these companies.<\/p>\n<p>Horvath admitted that when he received the insider information from the other analysts, he knew that they were all breaching their duties of loyalty. He caused certain trades to be executed based on such information. He also provided the other analysts with insider information about publicly traded companies.<\/p>\n<p>In other securities fraud news, the U.S. District Court for the Southern District of New York has ruled that under California securities law, the Securities Litigation Uniform Standards Act bars a class action filed by investors in two hedge funds that failed after the Madoff Ponzi scheme was found out. The plaintiffs are contending that the defendants, investment advisor Tremont Partners and a number of affiliates, made misrepresentations and omissions connected with a covered securities\u2019 sale. The case is <em>Lakeview Investment LP v. Schulman<\/em>.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/institutional-investment-fraud-2\/\"  title=\"Continue Reading Institutional Investment Fraud Roundup: Ex-Analyst Guilty in $61.8M Insider Trading Scheme, SLUSA Precludes Investor Class Action Over Hedge Funds that Failed After Madoff Ponzi, &#038; Dark Pool Operator Settles Subscriber Info. Breach Charges\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jon Horvath, an ex-research analyst at a New York hedge fund, has pled guilty to two counts of securities fraud and one count of conspiracy to commit securities fraud related to a $61.8 million insider trading scheme. Several other former hedge fund managers and analysts from different investment firms and hedge funds are also accused [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3804,3748,3811,3792],"tags":[2588],"class_list":["post-5372","post","type-post","status-publish","format-standard","hentry","category-class-action-lawsuits","category-hedge-funds","category-insider-trading","category-ponzi-scams","tag-slusa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Institutional Investment Fraud Roundup: Ex-Analyst Guilty in $61.8M Insider Trading Scheme, SLUSA Precludes Investor Class Action Over Hedge Funds that Failed After Madoff Ponzi, &amp; Dark Pool Operator Settles Subscriber Info. Breach Charges &#8212; Investor Lawyers Blog &#8212; October 18, 2012<\/title>\n<meta name=\"description\" content=\"Jon Horvath, an ex-research analyst at a New York hedge fund, has pled guilty to two counts of securities fraud and one count of conspiracy to commit &#8212; October 18, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/institutional-investment-fraud-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Institutional Investment Fraud Roundup: Ex-Analyst Guilty in $61.8M Insider Trading Scheme, SLUSA Precludes Investor Class Action Over Hedge Funds that Failed After Madoff Ponzi, &amp; Dark Pool Operator Settles Subscriber Info. 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