Losses & Lawsuits


Durus Capital Management

The US Securities and Exchange Commission filed on October 12 fraud charges against hedge fund Durus Capital Management, and its principals, Scott Sacane and J Douglas Schmidt. The SEC complaint charges Sacane and Schmidt with instigating fraudulent schemes during 2002 and 2003 involving the common stock of two biotechnology companies: Esperion Therapeutics and Aksys. Schmidt has since pleaded guilty to filing false statements.

Once the alleged frauds were disclosed in

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