BREAKING NEWS

Falcone, Harbinger seek dismissal of SEC charges

By REUTERS

DECEMBER 1, 2012 06:36

NEW YORK - Hedge fund manager Philip Falcone on Friday asked a federal judge to dismiss US Securities and Exchange Commission charges accusing him of market manipulation, giving preferential treatment to certain investors and borrowing cash from his own fund to pay his personal taxes.

The billionaire, who was sued in US District Court in Manhattan in June, said government regulators had no evidence that he had deceived investors or acted outside of the law.

The SEC charged Falcone and his fund, Harbinger Capital Partners, with manipulating the bond prices of bathroom fixtures maker MAAX Holdings Inc between 2006 and 2008.

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