Diamondback Capital Has Some Exciting News To Share

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Diamondback's founders, Richard Schimel and Larry Sapanski, said Monday in a letter to clients that the investment firm's external lawyers had conducted an "extensive review" of trading records and communications. As part of the review, lawyers with Wilmer Cutler Pickering Hale & Dorr LLP sifted through millions of emails and instant messages, analyzed thousands of trades, and made eight presentations to federal authorities regarding their findings between December 2010 and this month, according to a person familiar with the matter. The review "found no evidence establishing improper trading byany other Diamondback employee," Mr. Schimel and Mr. Sapanski said in the letter, [announcing its $9 million settlement with the SEC]. [WSJ]

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