Axa Rosenberg clients 'betrayed' by co-founder
Clients of Axa-Rosenberg lost $217 million because its co-founder concealed an error in one of its models, regulator says
Clients of institutional money manager Axa Rosenberg lost $217 million because its co-founder "betrayed" them by concealing a computer error in the risk management element of its quantative investment model, according to charges brought by the US Securities and Exchange Commission (SEC) against Barr Rosenberg.
The quant manager concealed the error from clients for almost a year after learning of
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