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2/16/2006
Deephaven Cap Management Settles with SEC in Pipes Probe
Deephaven Cap Management Settles with SEC in Pipes Probe
Via CFO.com:
-- MDT
"PIPEs" Plea for DeephavenRead more here.
Stephen Taub, CFO.com
February 10, 2006
Officials at Deephaven Capital Management LLC, the asset-management subsidiary of Knight Capital Group Inc., have submitted a settlement offer to the Securities and Exchange Commission to resolve an investigation concerning trading activity associated with certain private investments in public equities (PIPEs). The SEC's staff has agreed to recommend the deal to the commission, according to a regulatory filing.
Under the terms of the settlement offer, Deephaven would disgorge about $2.7 million, and pay $343,000 in prejudgment interest and $2.7 million as a civil penalty. In addition, the settlement would clear the way for the SEC to file a civil complaint in federal district court in which the commission would allege that Deephaven traded in possession of material, nonpublic information concerning 19 PIPEs offerings...
-- MDT
Labels: PIPES
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