SEC probing whether activist funds secretly acted in concert - WSJ

June 4 The U.S. Securities and Exchange Commission is investigating whether some activist investors teamed up to target companies without disclosing their alliances, the Wall Street Journal said.

The SEC's enforcement division has recently opened multiple investigations and sent requests for information to a number of hedge funds, the Journal said, citing people familiar with the matter. (on.wsj.com/1eRTPKi)

The names of the funds nor the companies they targeted could immediately be ascertained, the daily said.

SEC declined to comment.

Federal securities regulations require investors who jointly agree to buy, sell or vote securities to disclose those arrangements, and to designate themselves as a group if they together own at least 5 percent of a company's stock or are soliciting votes from other shareholders.

(Reporting by Avik Das in Bangalore)