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Mark A. Kornfeld quoted in article “UPDATE 2-Falcone agrees to industry ban in new U.S. SEC settlement”

Thomson Reuters

Below is an excerpt:

Hedge fund manager Philip Falcone recently reached a settlement with the SEC, which alleged he improperly used money from his hedge fund and unfairly favored some of his investors. He agreed to a five-year ban from the financial industry and will admit wrongdoing.

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“He could still technically serve on the board of other public companies,” Partner Mark Kornfeld, leader and securities law advisor for the firm's Hedge Fund Practice and Task Force on Complex Financial Fraud, told Reuters on August 19 (“UPDATE 2-Falcone agrees to industry ban in new U.S. SEC settlement”). “In the short-term, most would expect companies to shy away from bringing him aboard.”


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Originally published in Thomson Reuters, August 19, 2013