Friday, 19 December 2014
Last updated 13 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.