L. Douglas Schmidt, the former chief operating officer of hedge fund Durus Capital Management, pleaded guilty Wednesday in U.S. District Court in Bridgeport, Conn., to charges that he manipulated two stocks, which led to a profit of $40 million for Durus, The Wall Street Journal reports. Schmidt also admitted responsibility for filing false statements with the
SEC's civil suit accused Durus, Schmidt and Durus founder Scott R. Sacane of artificially driving up stock prices for two health care companies,
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