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Biotech / Medical : Introgen Therapeutics -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (655)	2/27/2007 12:02:56 PM
From: Jibacoa	Respond to of 802

The SEC caught Flink & others selling INGN short with plans to cover at little or no risk by buying stock at direct offerings by the company, apparently they thought that selling the stock short without the assurance that they could buy it a little lower was risky.<g> BOSTON, Feb 26 (Reuters) - Federal regulators fined hedge fund adviser Crestview Capital Partners, LLC and its founder on Monday for making false statements about some of its funds. The Northbrook, Illinois-based company agreed to pay $394,640 in disgorgement and civil penalties and to hire an independent consultant to monitor compliance. Stewart Flink, the company's founder, will pay $120,000 in civil penalties. The company and Flink did not admit nor deny the U.S. Securities and Exchange Commission's charges. The fund invested in registered direct offerings by Introgen Therapeutics, Inc. (INGN.O: Quote, Profile , Research) and Targeted Genetics Corp. (TGEN.O: Quote, Profile , Research) even after it had sold the stocks short a few days earlier, breaking one of the conditions for participating in the offering, the SEC said.