Ex-FrontPoint Manager Skowron, SEC Reach Accord in Principle
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Ex-FrontPoint Partners LLC hedge fund manager Joseph F. “Chip” Skowron and the U.S. Securities and Exchange Commission agreed in principle to settle a lawsuit, according to court papers.
Skowron, who also charged by federal prosecutors as part of a nationwide insider-trading crackdown, last week agreed to waive his right to be indicted, the government said in a court filing. Defendants regularly take that step when agreeing to plead guilty.