Wednesday, 1 October 2014
Last updated 3 hours ago
May 10 2010 | 12:13pm ET
Bernard Madoff feeder hedge fund manager J. Ezra Merkin has lost his bid to have a tabloid publisher’s lawsuit against him tossed.
A New York state judge last week rejected Merkin’s motion to dismiss Mortimer Zuckerman’s fraud lawsuit against him and his Gabriel Capital Corp., one of three Madoff feeders the former GMAC chairman ran. Justice Richard Lowe ruled that neither of Merkin’s contentions “has any merit.”
Lowe did toss Zuckerman’s claim of negligent misrepresentation.
Zuckerman, the chairman of Boston Properties and owner of the New York Daily News, sued Merkin last year over losses he and his charitable foundation suffered in the Madoff Ponzi scheme. Zuckerman’s charitable trust, CRT Investments, had $25 million invested in Merkin’s Ascot Fund, and he personally had $15 million invested in a second Gabriel Capital hedge fund.
Substantially all of Ascot’s funds were invested with Madoff, while more than 20% of Gabriel’s assets were invested with the fraudster.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...