Some stories have a sad ending, and some stories have a happy ending. This is one of the later. Just over two years ago MDN told you the news that BlackRock, a big-time multinational investment firm, fired the single most successful mutual fund manager in the U.S. for ten years running–Daniel Rice III (see BlackRock’s Screw-up with Dan Rice & Rice Energy). Dan was the manager for five energy-related funds at BlackRock, making the company beaucoup bucks. Dan went to his bosses and told them he was helping his boys start up a new northeast shale drilling company–Rice Energy. He made full and timely disclosure of his extracurricular activities. His bosses did nothing–they kept quiet–and when “the market” learned of Dan’s potential conflict of interest by investing in (or withdrawing investments from) companies that may be competitive with Rice Energy, his bosses fired him. Now, two years later, the Securities and Exchange Commission (SEC) is investigating…
