Violation Tracker Individual Record

Company: 
Harbert Management Corporation
Current Parent Company: 
Harbert Management
Penalty: 
$40,000,000
Year: 
2017
Date: 
April 18, 2017
Primary Offense: 
tax violations
Violation Description: 

The New York Attorney General announced a $40 million settlement with Alabama-based Harbert Management Corporation and top executives at the firm. Harbert Management was the fund sponsor for Harbinger Capital Partners, a $26 billion hedge fund based in New York City. The settlement resolved whistleblower allegations that members of Harbinger's investment manager failed to pay millions in New York State tax on performance income for several years.

Level of Government: 
state
Action Type: 
agency action
Agency: 
New York Attorney General
Civil or Criminal Case: 
civil
Facility State: 
New York
HQ Country of Parent: 
USA
HQ State of Parent: 
Alabama
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
diversified
Specific Industry of Parent: 
diversified
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.