Tuesday, 24 May 2016
Last updated 15 hours ago
Mar 18 2014 | 11:04am ET
Blogger “Valuable Insights” can remain anonymous for at least two more weeks.
Greenlight Capital has asked a New York State court to force Seeking Alpha to out the pseudonymous contributor, who disclosed its investment in Micron Technology before it was made public. The hedge fund was to have its chance today, but the hearing was postponed to April 1.
Greenlight wants to sue the blogger, whom it accuses of driving up its price for Micron. The hedge fund said it believes that only people with a contractual or fiduciary duty knew about its moves before Valuable Insights’ Nov. 14 post. In addition, Greenlight alleges, the blogger owned Micron shares when he or she made the post.
Judge Carol Edmead in Manhattan has asked Seeking Alpha why she should not grant Greenlight’s motion ordering the blog to identify Valuable Insights. Seeking Alpha has so far refused to do so.
In his or her profile on Seeking Alpha, Valuable Insights is described as a fund manager with more than two decades in the securities industry.