It’s a bank rush! Diamondback hit with $1 Billion in Redemptions

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The New York Times is reporting that one of the major hedge funds, Diamondback Capital Management is experiencing a mass exodus of investors. Diamondback is one of four hedge funds raided last November for accusations of insider trading.  The raid trigged a bank rush and investors have initiated the process to remove their funds, over $1 Billion in total funds so far.  The other funds raided are feeling similar heat.  To read more about it see the New York Times.

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