SEC Sues Wood River Hedge Fund
Allegations of lies, false promises and lack of disclosure led the Securities and Exchange Commission to sue Wood River Capital Management, accusing the Idaho-based hedge fund and its manager John Whittier of fraud.
According to the agency, the defendants "repeatedly made material misrepresentations regarding the oversight diversification of two hedge funds managed by John H. Whittier, Wood River Partners L.P. and Wood River Partners Offshore Ltd." It also says Whittier failed to conduct audits.
The SEC action is the latest black eye for the fund. According to the SEC and press accounts, Wood River investors have been trying for several weeks to get their money out after BNP Paribas, acting on behalf of a client, had a $49 million redemption request turned down. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,344.84 | 1,095.63 | 2,144.60 | 32.01 |
Oil *
78.55
|
|
UP
34.92
|
UP
4.14
|
UP
6.16
|
DOWN
0.30
|
10 Yr
3.20%
SPDR Gold
115.65
|
|
+0.34%
|
+0.38%
|
+0.29%
|
-0.93%
|
Data delayed 20 minutes |
Connect with TheStreet