Wednesday, 23 July 2014
Last updated 8 hours ago
Nov 12 2007 | 11:14am ET
Hedge funds are not allowed to advertise, but that’s not stopping Sardar Biglari.
The head of San Antonio’s Lion Fund put up three billboards in Indianapolis, but don’t expect the Securities and Exchange Commission to slap him with a cease-and-desist order. The ads are part of Biglari’s very public campaign for the board of Steak n Shake, an Indianapolis steakhouse chain.
Biglari, who controls 7.3% of Steak n Shake, says he is annoyed with the company’s poor performance, and announced last month a proxy battle for a pair of spots on Steak n Shake’s board. And to that end, he’s taking a page out of the political campaign playbook: The billboards implore Steak n Shake shareholders to vote for Biglari and Lion Fund board member Philip Cooley in the proxy fight.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…