Lincolnshire Management, a New York-based private equity fund advisor, has agreed to pay more than $2.3 million in fines and penalties after the Securities and Exchange Commission charged it for breaching its fiduciary duties.
The case related to acquisitions Lincolnshire made 17 years ago.
One of the firm's private equity funds — Lincolnshire Equity Fund — purchased one company in 1997 while another of the firm's funds — Lincolnshire Equity Fund II — purchased another company four years later.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
