{"id":7779,"date":"2008-05-27T00:00:00","date_gmt":"2008-05-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"csx-case-challenges-hedge-funds","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2008\/csx-case-challenges-hedge-funds.html","title":{"rendered":"CSX Case Challenges Hedge Funds"},"content":{"rendered":"<p>New York Post- A looming decision in a heated lawsuit brought by railroad giant CSX Corp. could shut down a loophole used by activist hedge funds to hide their stake from the market. <\/p>\n<p>CSX alleges that two big hedge funds &#8211; The Children&#8217;s Investment Fund (TCI) and 3G Capital Partners &#8211; used complex swap agreements with investment banks to secretly hide their 12 percent ownership stake in the rail operator. <\/p>\n<p>TCI boss Christopher Hohn admitted in a bench trial Thursday to buying millions of dollars worth of swaps for CSX shares early last year. <\/p>\n<p>Hohn, the son of working-class Jamaican parents who emigrated to London, disclosed his position in CSX last December and has launched a proxy contest to unseat five of the company&#8217;s directors. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.nypost.com\/seven\/05262008\/business\/csx_case_challenges_hedge_funds_scam_112592.htm\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Post- A looming decision in a heated lawsuit brought by railroad giant CSX Corp. could shut down a loophole used by activist hedge funds to hide their stake from the market. CSX alleges that two big hedge funds [&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":[364,360,245,314,362,359,241,316,361,247,363,240,358],"class_list":["post-7779","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-allianz","tag-carramerica","tag-embarrassment","tag-finance","tag-industry-experience","tag-investment-returns","tag-japanese-government","tag-mortgage-lenders","tag-municipal-bond","tag-target","tag-telegraph","tag-us-congress","tag-value-investors"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7779","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=7779"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/7779\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=7779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=7779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=7779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}