You can find background on the Cornerstone case right here. As for what's happening in the new and now, former Cornerstone Capital Management executive, Joseph Profit the second (and how could you go wrong with a hedge fund manager of that name?) was in the news, having received a permanent injunction preventing he and his firm from profiting further from their fraudulent activities. They'll also face civil penalties and be forced to pa restitution to wronged parties - amounts as yet uncertain.

-- MDT

Labels: CFTC, Cornerstone Capital Management, Joseph Profit