{"id":4805,"date":"2006-08-01T00:00:00","date_gmt":"2006-08-01T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"massey-settles-hedge-fund-dispute","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2006\/massey-settles-hedge-fund-dispute.html","title":{"rendered":"Massey Settles Hedge Fund Dispute"},"content":{"rendered":"<div class=\"writeboardbody\">  WEST PALM BEACH, FL (HEDGECO.NET) &#8211; Massey Energy, of Charleston, W.Va., one of the US\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s largest coal miners, said it had reached an agreement with New York-based hedge fund Third Point, holder of  approximately 5.9% of Massey Energy stock.  <\/p>\n<p>    Massey settled the dispute over the makeup of its board of directors by agreeing to accept two Third Point nominees to the board and to pay Third Point 750-thousand dollars. In return, Third    Point agreed not to sue Massey over the creation of a new board seat for one of the company\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s nominees.  <\/p>\n<p>    Daniel S. Loeb, founder and chief executive officer of Third Point, said: \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cNow that the election results have been certified, we hope that we can put this proxy contest behind us\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u00a6..I look forward    to working cooperatively with our fellow board members to deliver value to Massey\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s shareholders.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d  <\/p>\n<p>    Third Point <span class=\"caps\">LLC<\/span>, is an investment management hedge fund founded in 1995 that serves as investment manager or adviser to a variety of funds and managed accounts. The firm    is based in New York, with offices in Los Angeles, Sunnyvale and Hong Kong.  <\/p>\n<p>    Massey says the outcome frees up its board to work on more pressing matters. Massey is the nation\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s fourth-largest coal company by revenue and has mines in West Virginia, Kentucky and Virginia.  <\/p>\n<\/div>\n<p>  Alex Akesson<br \/>  Contributing Writer<br \/>  HedgeCo.Net<br \/>  Email: Editor@hedgeco.net<\/p>\n<p>  HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!<\/p>\n<p>  <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=\"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong>  and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WEST PALM BEACH, FL (HEDGECO.NET) &#8211; Massey Energy, of Charleston, W.Va., one of the US\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s largest coal miners, said it had reached an agreement with New York-based hedge fund Third Point, holder of approximately 5.9% of Massey Energy stock. Massey [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-4805","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4805","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=4805"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/4805\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=4805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=4805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=4805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}