Pershing Square fined $75,000 for unlawful campaign contribution
Pershing Square Capital Management has reached a $75,000 settlement with the US Securities and Exchange Commission (SEC) after a former employee donated $500 to a personal friend of a sibling who tried to enter a gubernational primary in Massachusetts. The contribution to the unsuccesful campaign for the state governorship was $350 over the limit and has since been refunded. The SEC has also alleged Pershing Square violated an investment adviser rule ("pay-to-play") preventing a firm from receiving business and compensation from a public pension fund within two years of a campaign contribution made by an associate of the firm.

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