Monday, 30 March 2015
Last updated 3 hours ago
Dec 18 2008 | 2:59am ET
The battle between CSX Corp. and a pair of activist hedge funds is finally over, three months after the railroad agreed to seat four director nominees proffered by the hedge funds.
Under a proposed settlement, The Children’s Investment Fund will pay $10 million, and 3G Capital Management $1 million, to settle a lawsuit accusing the hedge funds of violating securities laws. The funds’ countersuit has been dismissed.
TCI and 3G prevailed over CSX management in a proxy fight, electing four directors to the company’s 12-member board. After battling to keep two from taking their seats—CSX asked a court to disenfranchise the hedge funds for their alleged securities law violations—the railroad in September said it would seat all four nominees.
As part of the settlement, TCI and 3G have denied any wrongdoing in their battle with CSX.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…