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Rating:Neuberger Puts an Analyst on Leave Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, December 05, 2011

Neuberger Puts an Analyst on Leave

News summary by MFWire's editors

The SEC investigation into insider trading at hedge funds has put one research analyst on leave. Fayad Abbasi, a research analyst at Neuberger Berman Group LLC [profile], is on leave but not for the right reasons.

Bloomberg reports that Neuberger placed the analyst on paid leave after his name emerged at the insider-trading trial of James Fleishman, a former Primary Global Research LLC sales executive.

Authorities have not charged Abbasi with any wrongdoing.

Fleishman reportedly sent e-mails to his customers that contained nonpublic information about technology companies, and Abbasi's name has surfaced on at least one of the e-mails. Fleishman was convicted Sept. 20 of conspiracy and securities fraud. Fundaters looking for more dirt on the investigation may want to check out the rest of the article.

A Neuberger spokesman told the MFWire that the firm is aware of the allegations against Abbasi and said: “Through a news report, we were informed that a research analyst at our company was possibly under investigation. If there is an inquiry, our firm will cooperate with all authorities.”

Reuters also covered the story. 

Correction: A statement from Neuberger Berman has been added to this article.

Edited by: Hung Tran


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