Former CIO of Neil Woodford client Acacia Research charged with insider trading

Alfred Tobia Jr and sister-in-law

Eve Maddock-Jones
clock • 2 min read

The US Securities and Exchange Commission (SEC) has charged the former CIO of Acacia Research Alfred Tobia Jr with insider trading, along with his sister-in-law Elizabeth Lee.

Tobia joined Acacia's board in 2018 and took on the role of president and CIO in 2019, positions he held until September 2021. During this period, Acacia was the sole client of disgraced former fund manager Neil Woodford, who in February that year, was preparing to launch his new advisory firm, Woodford Capital Management Partners. Update: Link completes Woodford-Acacia deal as LF Equity Income value reduces after Ombu deal Acacia is a listed US investor in early-stage life science and biotech companies, the type of stock Woodford had held in his former LF Woodford Equity Income fu...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Friday Briefing: The AI bubble might be about to pop

Friday Briefing: The AI bubble might be about to pop

Nvidia took the biggest hit

Cristian Angeloni
clock 03 February 2025 • 3 min read
Stories of the week: Hedge funds go short against Saba holdings; Schroders adopts all four SDR labels

Stories of the week: Hedge funds go short against Saba holdings; Schroders adopts all four SDR labels

Hedge funds, Saba, and Hargreaves Lansdown: The biggest stories from the world of investment and asset management this week

clock 31 January 2025 • 1 min read
WBS' Steve Croucher: Barriers to entry for fractional shares are higher than you think

WBS' Steve Croucher: Barriers to entry for fractional shares are higher than you think

Risks can 'grow at pace'

Steve Croucher
clock 30 January 2025 • 4 min read
Trustpilot