{"id":6752,"date":"2007-11-06T00:00:00","date_gmt":"2007-11-06T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-to-sue-arcelormittal-for-400m","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2007\/hedge-funds-to-sue-arcelormittal-for-400m.html","title":{"rendered":"Hedge funds to sue arcelormittal for $400m"},"content":{"rendered":"<p>  Times Online- Three hedge funds are set to sue ArcelorMittal, the largest European steelmaker, its directors, headed by Lakshmi Mittal, and its investment banks, Morgan Stanley and Goldman Sachs,  for $400 million (\u00c3\u201a\u00c2\u00a3192 millon).<\/p>\n<p>  The funds claim that they have been short-changed by the steel company over the terms of the \u00c3\u201a\u00c2\u00a326 billion merger announced last year between Mittal, headed by Mr Mittal, the billionaire Indian-born  magnate, and Arcelor, the Euronext-listed steel company.<\/p>\n<p>  SRM Global Fund, a Monaco fund founded and run by Jon Wood, a former head of proprietary trading at UBS, has joined forces with Trafalgar, a London-based fund run by Lee Robinson, and Deminor, a  Brussels-based fund, to bring the claims for misrepresentation.<\/p>\n<p>  The hedge funds have hired lawyers at Mischcon de Reya, the London firm appointed by Diana, Princess of Wales, in her divorce, to launch legal proceedings against ArcelorMittal, <em>The Times<\/em>  has learnt.<\/p>\n<p><strong><a href=\"http:\/\/news.google.com\/news\/url?sa=T&amp;ct=us\/0-0&amp;fd=R&amp;url=http:\/\/business.timesonline.co.uk\/tol\/business\/industry_sectors\/banking_and_finance\/article2813246.ece&amp;cid=1123160550&amp;ei=QTQwR7zABJveqwPK4pXlDQ\">ReadComplete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Times Online- Three hedge funds are set to sue ArcelorMittal, the largest European steelmaker, its directors, headed by Lakshmi Mittal, and its investment banks, Morgan Stanley and Goldman Sachs, for $400 million (\u00c3\u201a\u00c2\u00a3192 millon). The funds claim that they have [&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-6752","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6752","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=6752"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/6752\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=6752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=6752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=6752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}