Wellington Says It’s Not a Target in U.S. Trading Investigation

Wellington Management LP said it was told by the U.S. government that it’s not a target in its investigation of insider trading.

The firm hasn’t been accused of wrongdoing, Sara Lou Sherman, a spokeswoman for Boston-based Wellington, said today in a telephone interview.

Wellington, which oversees $598 billion, said Nov. 23 that it had received a request for documents from federal investigators, without specifying what kind of information is being sought.

Hedge funds SAC Capital Advisors LP, Diamondback Capital Management LLC and Level Global Investors LP and mutual fund Janus Capital Group Inc. said last month they had received subpoenas. The firms have said they’ve been informed that they aren’t targets of the investigation.

To contact the reporter on this story: Sree Vidya Bhaktavatsalam in Boston at sbhaktavatsa@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.