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News November 1, 2004 Issue

Beacon Hill Settles With SEC

Beacon Hill Asset Management and the four principals charged with fraud in connection with the hedge fundís sudden devaluation in October 2002 settled last week with the SEC. Together, the defendants will pay $2.4 million in disgorgement and prejudgment interest, and $2 million in penalties. Each of the principals agreed to an industry bar.

Private suits remain outstanding.