The Massachusetts’ securities regulator has closed a small Cambridge hedge fund, The Wall Street Journal reports. William Galvin, the Secretary of the Commonwealth, charged Risk Reward Capital Management and its manager with using an expert consultant to obtain inside information on two pharmaceutical companies. James Silverman and his fund have been accused of using expert-network firm, Guidepoint Global, to get inside information on clinical trials, which helped him to boost returns for his fund. Guidepoint was named as a related party in the case and not charged with wrongdoing.
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