_______________________________ Knight Capital Shares Fall
NEW YORK (AP) -- Shares of financial services firm Knight Capital Group fell Tuesday on worries it might return up to $68.4 million in fees if the performance of its investment funds falters in the coming months.
Knight Capital shares fell $1.10, or 7.6 percent, to $13.37 in afternoon trading. Shares have traded between $12.67 and $21.78 during the past 12 months.
Knight Capital operates investment funds through its Deephaven Capital Management LLC subsidiary. Based on a "clawback" clause, if the Deephaven Funds suffer a loss in the second half of 2007, Knight could return at least a portion of the incentive fees it received from earnings on the funds during the first half of the year, according to a filing it submitted Monday to the U.S. Securities and Exchange Commission. The clause provides protection for investors in the event of losses in the fund...
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