The Twists and Turns in the Pequot Inquiry
The Securities and Exchange Commission’s investigation of insider trading at Pequot Capital Management had almost as many twists as an episode of “Desperate Housewives.” Closed by the enforcement division staff, it became the subject of a Senate investigation and a report by the S.E.C.’s inspector general, reopened briefly and closed again, and finally reopened and pushed forward after e-mail messages from a divorce case emerged two years later.
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