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May 24, 2015 12:05 AM ET

Capital Markets

Company Overview of Moore Capital Management, LP

Company Overview

Moore Capital Management, LP is an employee owned hedge fund sponsor. The firm primarily provides its services to pooled investment vehicles. It invests in public equity, fixed income, and alternative investment markets across the globe. The firm employs fundamental analysis to make its investments. Moore Capital Management, LP was founded in 1989 and is based in New York City with additional offices in London, United Kingdom.

1251 Avenue of the Americas

53rd Floor

New York, NY 10020

United States

Founded in 1989

Phone:

212-782-7000

Fax:

212-782-7194

Key Executives for Moore Capital Management, LP

Chief Executive Officer, Founder, and Chairman
Age: 58
President and Director
Chief Financial Officer and Director
Age: 51
Chief Operating Officer and Director
Managing Director and Director
Compensation as of Fiscal Year 2014.

Moore Capital Management, LP Key Developments

Moore Capital Pays $48.4 Million to Settle Close-Banging Suit with Goldman Class-Action Firm

Moore Capital has paid $48.4 million to settle a class-action lawsuit accusing the hedge fund of banging the close in Nymex platinum and palladium markets in 2007 and 2008, Metal Bulletin understands. The company paid the Commodities Futures Trading Commission (CFTC) a $25 million penalty to settle charges of attempted manipulation of the Nymex contracts in April 2010, and also submitted to restrictions on its trading in the PGM markets. The CFTC said Welsh routinely received market-on-close buy orders from Pia with the understanding that Pia wanted to buy at higher prices. To accomplish that, Welsh allegedly devised and implemented a trading strategy to attempt to maximise the price impact by trading during the two-minute closing periods of the palladium and platinum futures contracts markets. On August 23, law firm Lovell Stewart Halebian Jacobson confirmed it had successfully extracted a further $48.4 million from Moore to settle a class-action suit filed in New York relating to the alleged price manipulation. The law firm also hit the headlines at the start of August as it launched a class-action lawsuit against Goldman Sachs, Metro, the London Metal Exchange and others on behalf of aluminium consumers, accusing the defendants of inflating prices by withholding metal from the market in Detroit warehouses. And its history in the metal markets extends further than that. Early successes for Lovell Stewart include $145 million in recoveries on price manipulation claims under the Commodity Exchange Act, including a settlement in litigation related to the Sumitomo copper scandal of the mid-1990s.

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