Wednesday, 22 October 2014
Last updated 13 hours ago
May 13 2013 | 10:42am ET
The battle between more than two dozen hedge funds and Porsche Automobil Holding is back on—in Germany.
As promised, 25 hedge funds that had been suing the automaker for market-manipulation in both federal and state courts in New York have moved their litigation across the Atlantic. The hedge funds dropped their U.S. cases in February and agreed to bring the case in Germany; Porsche, for its part, gave the hedge funds 90 days to do so.
According to the hedge funds, Porsche secretly acquired a majority stake in Volkswagen before announcing plans to acquire it. While that plan never came to fruition, thanks in part to the hedge funds' lawsuit, the funds allege unjust enrichment all the same.
Two former Porsche executives are facing criminal charges over the alleged manipulation.
The hedge funds, including Glenhill Capital, Greenlight Capital and Viking Global Investors are seeking €1.4 billion in the new lawsuit, filed in Stuttgart, Porsche's home city.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...