{"id":7284,"date":"2008-03-11T00:00:00","date_gmt":"2008-03-11T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-laxey-violated-swiss-law-regulators","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2008\/hedge-fund-laxey-violated-swiss-law-regulators.html","title":{"rendered":"Hedge fund Laxey violated Swiss law: regulators"},"content":{"rendered":"<p>NEW YORK, March 10 (Reuters) &#8211; Activist British hedge fund Laxey Partners breached Swiss law in acquiring a 22.89 percent stake in Swiss construction company Implenia AG (IMPN.S: Quote, Profile, Research) without properly disclosing it, the Swiss Federal Banking Commission (SFBC) said on Monday.<\/p>\n<p>In a statement, the SFBC said it will file a criminal complaint with the Swiss Department of Finance, which can prosecute Laxey for violations of Swiss securities laws.<\/p>\n<p>Implenia, in a separate statement, said it was &quot;pleased&quot; with the SFBC finding. It said Laxey now faces fines of up to 250 million Swiss francs ($242 million) and suspension of all Laxey voting rights in Implenia shares for several years.<\/p>\n<p>A representative of Laxey could not be reached for comment.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/rbssFinancialServicesAndRealEstateNews\/idUSN1049140720080310\" target=\"_self\">Read Complete Article&nbsp;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, March 10 (Reuters) &#8211; Activist British hedge fund Laxey Partners breached Swiss law in acquiring a 22.89 percent stake in Swiss construction company Implenia AG (IMPN.S: Quote, Profile, Research) without properly disclosing it, the Swiss Federal Banking Commission [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-7284","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7284","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=7284"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7284\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}