{"id":6664,"date":"2007-10-12T00:00:00","date_gmt":"2007-10-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-take-legal-steps-against-unicredit","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2007\/hedge-funds-take-legal-steps-against-unicredit.html","title":{"rendered":"Hedge funds take legal steps against UniCredit"},"content":{"rendered":"<p>Reuters- Leading Italian bank UniCredit was notified on Thursday of a legal action brought against it by some hedge funds that are minority shareholders of its German unit HVB, UniCredit said in astatement.<\/p>\n<p>  The legal action was also directed at UniCredit&#8217;s Chief Executive Officer Alessandro Profumo, the bank added.<\/p>\n<p>  The hedge funds were acting in response to alleged damage suffered as a result of the group reorganisation following UniCredit&#8217;s takeover of HVB in 2005.<\/p>\n<p>  UniCredit said it deemed the claims &#8220;unfounded as all the transactions mentioned (the reorganisation) have been carried out on an arm&#8217;s length basis (and) supported by independent, external  opinions and evaluations.&#8221;<\/p>\n<p>  The bank and Profumo intend to take legal steps to safeguard their rights, Unicredit said.<\/p>\n<p>  <a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/2-0&amp;fd=R&amp;url=http:\/\/www.reuters.com\/article\/mergersNews\/idUSL1118452120071011&amp;cid=0&amp;ei=ORIPR-XLO5TcqgO_opDMDQ\"><strong>Read  Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters- Leading Italian bank UniCredit was notified on Thursday of a legal action brought against it by some hedge funds that are minority shareholders of its German unit HVB, UniCredit said in astatement. The legal action was also directed at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6664","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6664","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=6664"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6664\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}