The Securities and Exchange Commission (SEC) on Thursday filed a civil action against investment management firm LJM and two of its portfolio managers for fraudulently misleading investors about the company’s risk management practices and the level of risk in its portfolios.
The SEC is seeking permanent injunctions, disgorgement with prejudgment interest, and civil penalties from LJM Funds Management and LJM Partners (collectively, LJM) and portfolio managers Anthony Caine and Anish Parvataneni. Caine is also the owner and founder of LJM.
