Tag Archives: remorse
Lawyer in $700M fraud to plead guilty
New York Daily News – Marc Dreier will plead guilty to all charges stemming from the $700 million investment fraud he is accused of carrying out, his lawyer said Monday. Defense lawyer Gerald Shargel said Dreier will enter the plea […]
Merrill’s Thain seeking 2008 bonus of $10 million
Reuters – Merrill Lynch & Co Chief Executive John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered company’s compensation committee is resisting his request, the Wall Street Journal […]
Hedge fund lowers takeover bid for Epicor Software
CNNMoney.com – New York hedge fund Elliott Associates LP lowered its offer price Tuesday for Epicor Software Corp., saying in a letter it was "extremely disappointed" Epicor’s board had recommended shareholders reject a takeover. Elliott, a large shareholder in the […]
Porsche runs down hedge funds
Globe and Mail – Since many hedge fund managers like to drive Porsche roadsters, it’s somehow appropriate that the German auto maker just ran them down. The European hedge fund community took a pounding Monday covering short positions in Volkswagen. […]
Taylor Wimpey slips as hedge fund sells shares
Guardian.co.uk – Housebuilder Taylor Wimpey has slipped more than 8% on news that Toscafund, the hedge fund run by former bank analyst Martin Hughes, has sold a chunk of shares in the business. Tosca, which is said to have lost […]
MEPs demand unprecedented openness from hedge funds
Guardian.co.uk – MEPs will call tomorrow for EU legislation to force private equity groups and hedge funds to disclose unprecedented amounts of information about their activities. The demand for tougher regulation comes as private equity groups are warning that the […]
Papers turn on hedge fund managers
BBC UK News – "They hunt as a pack and can bring down financial systems" says the Daily Mirror, describing the hedge fund managers widely blamed for bringing down HBOS. The decision to halt short selling of bank shares – […]
Britain and US crack down on hedge funds blamed for crisis –
Independent – An unprecedented crackdown on speculators preying on falling share prices began on both sides of the Atlantic yesterday, as Gordon Brown promised to "clean up the financial system" after days of turmoil. The Financial Services Authority (FSA) banned […]
Harbinger to raise stake in Cleveland-Cliffs
Reuters – Hedge fund Harbinger Capital Partners said on Thursday it is seeking approval from Cleveland Cliff’s shareholders to boost its ownership stake to as much as a third of the iron-ore company. Harbinger — already Cleveland-Cliffs’ largest shareholder — […]
Index eyes bargains in biotech
Reuters UK – Bombed-out valuations present an unprecedented buying opportunity in the European biotech sector, according to venture capital firm Index Ventures, which is eyeing both early and late-stage opportunities. "It’s like being in a candy shop," partner Francesco De […]
Hedge fund buys 5.3 percent of RadioShack stock
Fort Worth Star Telegram- Citadel Investment Group is bullish on RadioShack, buying 6.9 million shares, or 5.3 percent of the electronics retail chain’s stock, according to a federal filing Monday. With the purchase, the Chicago-based hedge fund becomes the fourth-largest […]
