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Friday A.M. Report

South Florida hedge fund managers accused of Petters involvement: Two South Florida-based hedge fund managers and their firms are the latest to be accused of participating in Tom Petters’ multibillion-dollar Ponzi scheme. Bruce F. Prévost, 50, of Palm Beach Gardens, and David W. Harrold, 51, of Delray Beach, are alleged to have funneled more than $1 billion of investor money into the Minnesota businessman’s scheme, according to a 40-page complaint filed by the Securities and Exchange Commission in Minnesota. Read full story

SurModics lays off more workers: SurModics Inc. is engaging in another round of layoffs as the maker of coatings for medical devices seeks to reorganize its business. Eden Prairie-based SurModics said in a Thursday evening filing that it will cut about 13 percent of its workforce, more than 30 jobs. Read full story

Minnesota venture capital investments down in Q3: Venture capital investment in Minnesota companies dipped to $43 million in the third quarter, down from nearly $53 million in the previous three-month period, according to a report released Friday. The number of companies that raised money also fell. Venture capitalists invested in six companies in the quarter, down from nine in the previous period, according to the MoneyTree Report. Read full story

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