Sunday, 26 April 2015
Last updated 2 days ago
Feb 20 2007 | 4:04pm ET
The RMR Hospitality and Real Estate Fund, the closed-end fund doing battle with activist hedge fund manager Phillip Goldstein, has opened a new front in their increasingly nasty battle.
The Newton, Mass.-based fund sent a letter to shareholders savaging Goldstein and pleading for help: “Your vote is important to help us prevent Phillip Goldstein and his ‘Bulldog’ hedge fund from taking control of your company.”
Goldstein and his firm, Bulldog Investors, “want to liquidate our company for a quick profit and then move on to their next target,” Tom O’Brien, the fund’s president, wrote in the letter. “We believe Goldstein’s track record implies that he cannot be trusted.”
Last month, Massachusetts sued Goldstein for providing information about his hedge fund to a non-accredited investor after RMR solicited a Brendan Hickey to request it, and then turned it over to the office of Massachusetts Secretary of State William Galvin. And RMR, which is also suing Goldstein for breaking its ownership limit, didn’t hesitate to bring up Galvin’s lawsuit in its letter. It also accuses him of bullying another mutual fund into agreeing to a “green mail” payoff and said he’s done a dismal job at a third mutual fund he took control of.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…