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Monday, December 05, 2011|
Neuberger Puts an Analyst on Leave
The SEC investigation into insider trading at hedge funds has put one research analyst on leave. Fayad Abbasi, a research analyst at Neuberger Berman Group LLC [profile], is on leave but not for the right reasons.
Bloomberg reports that Neuberger placed the analyst on paid leave after his name emerged at the insider-trading trial of James Fleishman, a former Primary Global Research LLC sales executive.
Authorities have not charged Abbasi with any wrongdoing.
Fleishman reportedly sent e-mails to his customers that contained nonpublic information about technology companies, and Abbasi's name has surfaced on at least one of the e-mails. Fleishman was convicted Sept. 20 of conspiracy and securities fraud. Fundaters looking for more dirt on the investigation may want to check out the rest of the article.
A Neuberger spokesman told the MFWire that the firm is aware of the allegations against Abbasi and said: “Through a news report, we were informed that a research analyst at our company was possibly under investigation. If there is an inquiry, our firm will cooperate with all authorities.”
Reuters also covered the story.
Printed from: MFWire.com/story.asp?s=38480
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