Hedge Fund and Insider Trading News: AQR Capital Management, Elliott Advisors, Politan Capital Management, Agree Realty Corporation (ADC), Target Corporation (TGT), and More

Hedge Funds AQR and Others Case Against LME Dismissed – Judge (Reuters)
A British judge on Friday dismissed a case against the London Metal Exchange brought by hedge fund AQR Capital Management and others that demanded phone call transcripts and meeting notes about the exchange’s decision in March to cancel nickel trades. Justice Adrian Beltrami said in his ruling that even if there was, on the part of the LME a “good arguable case of wrongdoing,” the judge considered “the merits of the case as weak.”

Superdry Shares Rocket as Feared Hedge Fund Elliott Advisors Backs a £70m Lifeline for the Struggling Fashion Firm (Dailymail.co.uk)
Shares in Superdry shot up after the fashion chain secured a lifeline from a lender backed by fearsome hedge fund Elliott Advisors. The retailer, which was battling to refinance a £70million loan due to expire in January, has agreed a new debt facility with Bantry Bay Capital. Shares rose 16.6 per cent, or 16.8p, to 118p. While investors were relieved it would live to fight another day, the new loan has come at a price.

FTX: Financier Ackman Says Things Aren’t Looking “Good” For Bankman-Fried (The Street)
One by one, Sam Bankman-Fried is losing the few influential business figures, who gave him the benefit of the doubt earlier. He has just completely lost the sympathy of Bill Ackman, the founder and CEO of hedge fund Pershing Square. The famous investor initially refused to condemn Bankman-Fried, known by the initials SBF, when the latter filed for Chapter 11 bankruptcy for his crypto empire, made up of FTX and Alameda Research, a hedge fund that also acted as a trading platform for institutional investors interested in cryptocurrencies.

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Alameda, Do Kwon-Backed Hedge Fund Breaks Silence to Announce Rebranding (CryptoSlate.com)
Alameda Research and Terra’s Do Kwon-backed crypto hedge fund Pangea Fund Management is rebranding to Syncracy Capital after seven months of silence. The hedge fund’s website shows no solid development or investment it has made. Its official Twitter account has only seven tweets -two of which were made in May 2022, during the height of the Terra Luna crash, while three were from 2021.

BlackRock’s Pitch for Socially Conscious Investing Antagonizes All Sides (The New York Times)
It was a clarion call to chief executives everywhere. In 2018, Laurence D. Fink, the longtime chief executive of BlackRock, the world’s largest asset manager, urged corporate leaders to assess the societal impact of their businesses, embrace diversity and consider how climate change could affect long-term growth.