{"id":23954,"date":"2011-08-09T09:42:39","date_gmt":"2011-08-09T13:42:39","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=23954"},"modified":"2011-08-09T09:45:04","modified_gmt":"2011-08-09T13:45:04","slug":"cleveland-browns-owner-wins-hedge-fund-dispute","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2011\/cleveland-browns-owner-wins-hedge-fund-dispute.html","title":{"rendered":"Cleveland Browns Owner Wins Hedge Fund Dispute"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/clev-browns-id-tag.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-23955\" title=\"clev-browns-id-tag\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/clev-browns-id-tag-300x224.jpg\" alt=\"\" width=\"300\" height=\"224\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/clev-browns-id-tag-300x224.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2011\/08\/clev-browns-id-tag.jpg 550w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; The owner of the Cleveland Browns, Randy Lerner,\u00a0has won a court order against hedge fund\u00a0Paige Capital Management LLC., in a Delaware Court yesterday.<\/p>\n<p>Bloomberg reports that the hedge fund is ordered to return\u00a0the remainder of Lerners&#8217; $40 million investment.<\/p>\n<p>\u201cI order a remedy requiring the immediate return of all Lerner\u2019s capital invested in the fund along with interest tied to the delay in handing over the funds,&#8221; The judge said in 100-page ruling.<\/p>\n<p>Lerner\u00a0rebuffed a March offer by the Paiges to settle the case for about $3 million, according to court filings.\u00a0The hedge fund barred Lerner from withdrawing his money because it amounted to more than 20 percent of the fund\u2019s assets under management.\u00a0The fund also returned about $8 million to Lerner in November 2010, according to court filings.<\/p>\n<p>In 2009, according to Bloomberg, the hedge fund manager\u00a0Christopher Paige\u00a0sought the Republican nomination for a U.S. House of Representatives seat in the Poconos section of northeastern\u00a0Pennsylvania. He dropped out of the race in March 2010.<\/p>\n<p>Editing by Alex Akesson<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; The owner of the Cleveland Browns, Randy Lerner,\u00a0has won a court order against hedge fund\u00a0Paige Capital Management LLC., in a Delaware Court yesterday. Bloomberg reports that the hedge fund is ordered to return\u00a0the remainder of Lerners&#8217; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-23954","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=23954"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23954\/revisions"}],"predecessor-version":[{"id":23957,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/23954\/revisions\/23957"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=23954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=23954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=23954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}