HBK Talks Settlement

The Plug Power transaction is the second private placement involving HBK that securities regulators are looking into. The SEC also is reviewing HBK's trading in connection with another 2003 transaction, in which PFSWeb (PFSW Quote), a Plano, Texas, outsourcing firm, raised $3.5 million.

HBK, founded in 1991 by former Merrill Lynch managing director Harlan B. Korenvaes, is the largest hedge fund to draw regulatory scrutiny in the PIPEs investigation. The fund employs more than 250 people and is perennially one of the biggest investors in private stock placements by public firms.