Study of Akt Inhibitor MK2206 in Patients With Relapsed Lymphoma

Inclusion Criteria: * Histologically confirmed Hodgkin lymphoma (HL) or non-Hodgkin lymphoma (NHL) (small lymphocytic lymphoma may be included) * Relapsed or refractory after at least one regimen and with no curative option with conventional therapy * Bidimensionally measurable disease (at least 2 cm) * No evidence of cerebral or meningeal involvement by lymphoma * Eastern Cooperative Oncology Group (ECOG) performance status 0 to 1 * Signed informed consent form prior to enrollment * Women of childbearing potential and men must use two forms of contraception (hormonal or barrier method of birth control; abstinence) prior to study entry and for the duration of study participation; should a women become pregnant or suspect she is pregnant while she or her partner is participating in this study, the patient should inform the treating physician immediately Exclusion Criteria: * Burkitt's lymphoma, lymphoblastic lymphoma, chronic lymphocytic leukemia and cutaneous T-cell lymphoma * Chemotherapy or radiation therapy or other investigational agents within 3 weeks prior to entering the study unless there is clear evidence of progression of disease and toxicity from previous treatment has resolved in which case study entry may be within 1 week of last treatment * Previous radioimmunotherapy within 12 weeks * Patients with known immunodeficiency virus (HIV) infection must not have cluster of differentiation (CD)4 cells \< 400/mm\^3 and who must not have a prior acquired immunodeficiency syndrome (AIDS)-defining diagnosis and cannot be on antiretroviral therapy for HIV * Known active viral hepatitis * Any serious active disease or co-morbid condition, which in the opinion of the principal investigator, will interfere with the safety or with compliance with the study * Absolute neutrophil count \< 1.5 x 10\^9/L * Platelets \< 75 x 10\^9/L * Total bilirubin \> 1.5 x upper limit of normal (ULN) (\> 3 x ULN for patients with liver involvement) * Aspartate aminotransferase (AST), alanine aminotransferase (ALT) \> 2.5 x ULN (\> 5 x ULN for patients with liver involvement) * Serum creatinine \> 2 x ULN * Hemoglobin (Hb)A1C \> 8% * Patients receiving any medications or substances that are inhibitors of cytochrome P450 family 3, subfamily A, polypeptide 4 (CYP 450 3A4) are ineligible * Patients with diabetes or in risk for hyperglycemia should not be excluded from trials with MK-2206, but the hyperglycemia should be well controlled on oral agents before the patient enters the trial * Cardiovascular: baseline Fredericia corrected QT interval (QTcF) \> 450 msec (male) or QTcF \> 470 msec (female) will exclude patients from entry on study * Significant heart block or baseline bradycardia \< 50 beats per minute (bpm) due to cardiac disease * Patients who are pregnant or breastfeeding