Lawsuit Against Hedge Fund Anthion Dismissed

Aug 21 2012 | 12:23pm ET

Hedge fund Anthion Management has won its legal battle with a Canadian mining company.

A New York State judge on Friday dismissed Silvercorp Metals' lawsuit against Anthion. The company had objected to Anthion's dissemination of allegations of accounting fraud and overvaluation.

Anthion admitted it had written a report against Silvercorp and had posted it on the Web site chinastockwatch.com on Sept. 14. It also sent copies to Canadian regulators and Silvercorp's independent auditors.

Silvercorp also took issue with a 14-page dossier sent to regulators and news organizations on Aug. 29, 2011. But New York State Supreme Court Justice Carol Edmead was not impressed.

"Considering the letters and postings here as a whole, the Court finds they are not actionable," Edmead, who also dismissed claims against the blog AlfredLittle.com, wrote.

Anthion said it was "pleased with the Court's decision to dismiss Silvercorp's complaint, which we maintained was baseless from the outset."


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of