Bain's Brookside Capital fined by SEC for trading violation

June 30th, 2011
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The SEC recently reached a settlement with hedge fund Brookside Capital for trading violations. According to The Boston Globe, Brookside Capital manages $10 billion and is a subsidiary of Boston-based Bain Capital.

The SEC restricts investment firms from investing in stock offerings when they have recently shorted the company’s stock. Brookside Capital shorted 600,000 shares of Lincoln National Corporation in 2009 and then bought shares in a stock three days later, reaping a profit of $1.7 million.

Brookside Capital cooperated with the SEC and paid a total of $2,165,419 in returned profit, interest, civil penalty, and fees. Brookside was permitted to continue operations after the settlement.
For Detailed Investor Profiles on these Investors, click below:
Brookside Capital
Related People: Domenic Jay Ferrante; Matthew Vincent McPherron; Roy Edgar Brakeman
Related Entities: Absolute Return Capital (ARC); Bain Capital; Brookside Capital; Brookside Capital Partners Fund; Sankaty Advisors
Related Article Tags: Hedge Fund Fraud and Ponzi Scheme News


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