Thursday, 2 October 2014
Last updated 1 hour ago
Mar 10 2011 | 11:46am ET
In its ongoing legal battle with Canadian insurer Fairfax Financial Holdings, hedge fund Third Point subpoenaed several prominent business reporters and columnists—and then thought better of it.
The New York-based hedge fund, accused by Fairfax of insider-trading and seeking to drive its stock price down, had sought testimony from The New York Times' Joe Nocera and Bethany McLean, formerly of Fortune magazine. Fairfax alleges that Third Point and several other hedge funds, including SAC Capital Advisors and Kynikos Associates, used journalists in their effort to spread negative rumors about the company.
"Third Point has no intention of seeking testimony or documents from any member of the media, and any prior subpoenas issued to journalists have been fully withdrawn," the hedge fund's lawyer, Bill Carmody, told Reuters.
While Third Point has had a change of heart about subpoenaing journalists, some scribes still face active subpoenas. Morgan Keegan, accused by Fairfax of playing a part in the conspiracy to batter its share price, has subpoenaed Peter Eavis, the former columnist for The Wall Street Journal and TheStreet.com. Fairfax itself indicated that it might seek testimony from Roddy Boyd, formerly of the New York Post, but Fairfax lawyer Michael Bowe told Reuters they might relent now that Third Point has done so.
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...