Elliott Management Fined $22 Million For Insider Trading

French regulators have fined Paul Singer’s Elliott Management Corp €16 million ($22 million) for insider trading saying that the hedge fund used material non-public information while trading shares of Autoroutes Paris-Rhin-Rhone SA in 2010, Elliott Management informed its clients earlier today, reports Saijel Kishan for Bloomberg. Elliott has said that it will appeal the Autorite des Marches Financiers decision and that the Elliott funds will not take a hit either from the fines (should it fail to appeal them) or from other costs associated with the ruling.

Elliott Management increased its position in APPR ahead of a major...

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