Monday, 15 September 2014
Last updated 4 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?