Thursday, 21 August 2014
Last updated 52 min 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note