Thursday, August 17, 2017 12:12:22 PM
A Connecticut hedge fund manager and two of his investment advisory firms have been ordered to pay nearly $13 million after they were found liable for allegedly misappropriating investor funds, the U.S. Securities and Exchange Commission said in a statement Friday.
U.S. District Judge Robert N. Chatigny entered partial final judgment against Stephen M. Hicks and his firms Southridge Capital Management LLC and Southridge Advisors LLC earlier this month, ordering them to hand over allegedly ill-gotten profits of more than $5.8 million along with more than $2 million in prejudgment interest
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