Tag Archives: embarrassment
Madoff scandal doesn’t justify clampdown
UnionLeader.com – For sheer toe-curling embarrassment, it may be a while before Wall Street does better than the Bernard Madoff scandal. Here was a rogue who practically telegraphed his unreliability by hiring a tiny, no-name audit firm, by reporting monthly […]
CSX settles case over alleged fund violations
CNNMoney.com – Railroad CSX Corp. said Wednesday it has settled a case of alleged securities law violations with two activist shareholder hedge funds. If the settlement is approved by a federal court, CSX will receive $10 million from TCI, which manages […]
Shareholder Sues CSX, Hedge Funds Over Short-Swing
CNNMoney.com – A shareholder has sued CSX Corp. (CSX) and two hedge funds over sales of CSX shares before the funds publicly disclosed plans to shake up the railroad operator’s board in a proxy fight earlier this year. The lawsuit, […]
CSX Third Quarter Profits Down, Ward Optimistic
New York (HedgeCo.Net) – Jacksonville-based CSX Corp’s profit fell 6.1 percent in the third quarter according to their regulatory filing yesterday, thanks to reduced freight in a sour U.S. economy. This is the first time in the last five quarters […]
CSX loses fight to block hedge funds
Florida Times Union – CSX Corp.’s proxy fight with two hedge funds apparently ended Monday, after an appellate court turned down CSX’s attempt to block some of the funds’ votes for the company’s board of directors. CSX, which had already […]
Hedge funds get 4 of 5 candidates on CSX board
Bizjournals.com- CSX Corp’s board is in for a bumpy ride despite assurances from the railroad and two rival hedge funds they will work together to maximize profitability, a railroad analyst said. "Everyone is human and the proxy fight between them […]
Proxy advisory firm backs hedge funds’ nominees for CSX board
Bizjourmals.com- The country’s largest proxy advisory company recommended the election of four of the five board members nominated by hedge funds engaged in a proxy contest with CSX Corp. The Children’s Investment Fund Management LLP and 3G Capital Partners Ltd. […]
Ahead of the Bell: CSX vs. hedge funds
Forbes- Shares of railroad operator CSX Corp. may trade actively Thursday after a federal judge’s ruling opened the doors to a proxy battle later this month. On Wednesday afternoon, the judge ruled that dissident shareholders broke the law in their […]
CSX, hedge funds to present cases online
Bizjournals.com- CSX Corp. and the activist hedge funds engaged in a proxy contest with the railroad will make their cases to gain the recommendation of a company many institutional investors rely on when casting shareholder votes. RiskMetrics Group, a proxy […]
CSX says hedge funds have no plan for the company
Reuters- U.S. railroad CSX Corp, locked in a proxy battle with two hedge funds, urged shareholders in a letter on Tuesday to vote against the activist investor group’s proposed slate of five directors, saying they had "no plan" for the […]
CSX Case Challenges Hedge Funds
New York Post- A looming decision in a heated lawsuit brought by railroad giant CSX Corp. could shut down a loophole used by activist hedge funds to hide their stake from the market. CSX alleges that two big hedge funds […]
CSX, hedge funds face off in US court
Reuters- The chief executive of CSX Corp said in court on Wednesday he felt targeted by activist investors seeking to get seats on the board of directors, but the rail company negotiated with them in good faith to try to […]
