Nobody’s trying to put Paul Singer in jail—yet—but the Elliott Management chief has had to disclose an insider-trading probe to his investors.

Elliott Management faces an insider-trading inquiry in France stemming from its deal to sell its stake in a French highway network.

The Autorité des Marchés Financiers sent Elliott’s U.K. unit a “letter of grievance” at the end of last month, warning that it was the subject of a probe. AMF is looking at Elliott’s purchase of Autoroutes Paris-Rhin-Rhone shares between May and June of 2010, just before it and another money manager sold their 13.7% stake in APRR. The regulator said it believed the purchases inflated APRR’s stock price and earned Elliott €2.75 million in ill-gotten gains.

The news is no doubt going over very well in Buenos Aires, where increasingly-unpopular President Cristina Fernández de Kirchner may redirect some of her energies from saber-rattling over some islands rich in sheep and existential meaning to casting a statue of François Hollande for the Plaza de Mayo.

France Eyes Alleged Elliott Insider Trading [FINalternatives]
Elliott’s Unit Probed by French Regulator Over APRR Trade [Bloomberg]
Elliott reveals insider trading inquiry [FT]
Vitriol Over Falklands Resurfaces, as Do Old Arguments [NYT]

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Comments (4)

  1. Posted by VonSloneker | January 7, 2013 at 6:00 PM

    If only DB had a feature dealing with sportsbook. We could have had some interesting reading in the run up to the Catholics vs. Cousins Bowl.

    – Guy who misses MBA girl and sportsbook guy

  2. Posted by guest2 | January 7, 2013 at 8:35 PM

    In other news, Elliott seized the Eiffel Tower yesterday as a bargaining chip.

  3. Posted by Gently | January 8, 2013 at 10:15 AM

    I've tried the snide, so now the direct: Jon, maybe you should consider that you're just not very good at this job. But I bet there is some job out there that you would be great at! It's just not this one.

    PS If "Jon Shazar" is just the name of the DB robot/program that uses Summly to produce short summaries and autopost, well then…good job?

  4. Posted by sohbet | May 12, 2013 at 6:46 PM

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.