Shorting PIPE Shares, Calpers' Apollo Bet: Compliance
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Former hedge-fund manager Hilary Shane, accused of trading on inside information about a private placement she was asked to participate in, won't be prosecuted if she obeys the law for six months and pays a $50,000 fine.
Shane, 41, signed a deferred-prosecution agreement yesterday with the office of U.S. Attorney Michael Garcia in New York. If Shane complies with its requirements, the government will move to dismiss the indictment. She was indicted in 2006 on five counts of insider trading while at First New York Securities LLC and previously pleaded not guilty.