Thursday, 26 March 2015
Last updated 15 min ago
Mar 12 2009 | 4:10am ET
They may have won the war, but two activist hedge funds have lost a battle with CSX Corp. and one of its shareholders.
The Children’s Investment Fund and 3G Capital Partners have agreed to pay $10 million and $1 million, respectively, to CSX and Deborah Donoghue for breaking short-term trading rules. The settlement was approved last week by a New York federal court.
Donoghue has brought a number of cases accusing investors of violating the “short-swing” rule, with aims to keep owners of stakes larger than 10% in a company and insiders from making money in short-term trading. Last year, TCI and 3G won a bruising proxy battle with CSX, earning four seats on the railroad’s 12-member board of directors.
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…