Thursday, 18 September 2014
Last updated 1 min ago
Feb 22 2010 | 11:04am ET
If you’re going to do battle with SAC Capital Advisors, you’d better win. The Connecticut hedge fund giant last week sued a pharmaceutical company that had accused it of conspiring to drive down its stock price.
SAC filed suit in Connecticut federal court against Biovail, accusing the Canadian company of filing a “vexatious” lawsuit against it in 2006. That suit was tossed last year by a New Jersey judge.
According to SAC’s complaint, the Biovail allegations led to “tens of millions of dollars in unnecessary legal fees,” which it seeks to recoup, as well as “incalculable damages to its reputation.” The hedge fund is seeking triple damages.
One of SAC’s co-defendants in the Biovail case, research firm Gradient Analytics, also sued the pharmaceutical last week.
Biovail characterized the two lawsuits against it as “unfortunate.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.