Diamondback, one of the hedge funds raided on Monday during the Feds’ huge insider trading bust, is apparently trying to discredit the investigation.According to the NYPost, Diamondback is telling investors that it’s the victim of a “witch hunt.”
Well unfortunately, whether the Feds’ raid was valid or not, the fact that a search warrant was issued and carried out means that “there is a good chance that securities laws were violated,” says Peter Henning at Dealbook.
So it Diamondback might face the same fate as John Kinnucan’s Broadband Research, no matter what the investigation turns does or doesn’t uncover.
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