As it turns out, Greenlight Capital didn’t need a court’s help to identify a blogger it accused of disclosing its investment in Micron Technologies while it was still building the position.
The New York-based hedge fund said it had the real name of “Valuable Insights,” the Seeking Alpha blogger who broke word of Greenlight’s investment in November, ahead of the firm’s public disclosure. Greenlight had asked a judge to force Seeking Alpha to identify the blogger, which it refused to do; a hearing had been set for next month.
Seeking Alpha said it had not identified Valuable Insights to Greenlight, which said it had “resolved the matter privately.” The hedge fund did not identify the blogger.
“We’re happy Greenlight is no longer pursuing the case,” Seeking Alpha editor-in-chief Eli Hoffmann said. “This is not the first demand we have had to disclose pseudonymous authors’ identities; we have yet to disclose author identity in any claim submitted to court.”
In its lawsuit against Seeking Alpha, Greenlight alleged that Valuable Insight’s report drove up the price it paid for its Micron stake, and that the blogger was a Micron shareholder.