Saturday, 1 November 2014
Last updated 1 day ago
Jul 25 2013 | 9:55am ET
It took more than a week in jail and an agreement to return some stolen money, but former Third Point analyst Jeffrey Perry's soon-to-be-ex-wife now says she understands that when a court speaks, she has to listen.
Elizabeth Bingham-Perry is set to be released from the Westchester County, N.Y., jail, after striking a deal with her husband—and the court. Bingham-Perry was arrested on July 15 after she allegedly stole millions of dollars from Perry, and after a series of run-ins with the judge overseeing her divorce. That judge, Alan Scheinkman, had ordered Bingham-Perry to serve 31 days in prison for her "malevolence," but agreed to suspend the rest of the sentence if Bingham-Perry behaves.
"She has had a change of heart," her lawyer, Paul Kerson, said. "She's come to the conclusion that she must follow all of the court's orders."
Bingham-Perry had earned Scheinkman's ire not only for stealing the money, but also for routinely lying to him, changing her lawyer and failing to show up for court. She also filed a racketeering lawsuit against Perry last year, in which she echoed allegations made by Canadian insurer Fairfax Holdings that Third Point conspired to drive down its stock price. Fairfax's lawsuit against Third Point was dismissed.
Despite her actions, Bingham-Perry's deals allow her to keep $7 million—not including some $3 million that remains unaccounted for.
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…
Traders form habits quickly. Understanding these and their effects can better equip us to decipher actual market moves.