Level Global Founder Sues U.S. Over Fund’s Collapse

The founder of Level Global Investors LP sued U.S. prosecutors and FBI agents over the hedge fund’s demise amid an insider-trading investigation.

David Ganek claimed in a lawsuit filed Thursday in Manhattan federal court that the prosecutors and the agents violated his rights in the investigation.

Earlier Thursday, documents released by a federal judge showed telephone wiretaps from October 2009 to May 2010 captured one Level Global analyst getting nonpublic information from consultants. The locations of wiretaps weren’t visible in a redacted copy of the filing.

(Corrects to remove reference to location of wiretaps in third paragraph.)
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