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Hedge Fund and Insider Trading News: Philip Falcone, Alan Howard, Ariel Investments, Elliott Management, Mcdonald’s Corp (MCD), Crown Holdings, Inc. (CCK), and More

Feds Drop Case Against Ex-SAC Exec Ahead Of Trial (
Law360 (November 7, 2019, 12:41 PM EST) — Manhattan federal prosecutors have dropped insider trading charges against a former portfolio manager at SAC Capital who was headed to trial after getting his 2013 guilty plea vacated for falling short of the legal bar set out in the Second Circuit’s Newman decision. In a request filed Thursday, prosecutors dropped their case against Richard Lee, citing the fact that the evidence is now ten years old and that he has paid penalties to the U.S. Securities and Exchange Commission. “The government has determined that it is in the public interest to dismiss the charges pending against Lee,” prosecutors wrote in the…

U.S. Hedge Fund Takes £100MM Stake in Burford Capital (Litigation Finance Journal)
A U.S. hedge fund has taken a 5.2% stake in Burford Capital – investing £100MM into the world’s largest litigation funder – which places the fund squarely at odds with Muddy Waters, the investment firm that publicly shorted (and continues to short) Burford.

Crown Holdings Inc (CCK) EVP & COO Gerard H Gifford Sold $744,100 of Shares (Guru Focus)
EVP & COO of Crown Holdings Inc., Gerard H Gifford, sold 10,000 shares of CCK on 11/06/2019 at an average price of $74.41 a share. The total sale was $744,100. Crown Holdings Inc is one of the world’s largest producer of metal packaging products. The company manufactures beverage cans, metal food cans, and closures as well as aerosol cans. It operates mainly in US and Europe. Crown Holdings Inc has a market cap of $10.14 billion; its shares were traded at around $74.81 with a P/E ratio of 21.08 and P/S ratio of 0.88.

McDonald’s (NYSE: MCD) Executives are Making Moves with Their Shares (Analyst Ratings)
Today, a Director at McDonald’s (MCD), John J. Mulligan, bought shares of MCD for $251.5K. Following John J. Mulligan’s last MCD Buy transaction on March 24, 2017, the stock climbed by 71.8%. Following this transaction John J. Mulligan’s holding in the company was increased by 81.25% to a total of $563.1K.

Bluelinx Holdings Inc (BXC) PRESIDENT AND CEO Mitchell B Lewis Bought $188,139 of Shares (Guru Focus)
PRESIDENT AND CEO of Bluelinx Holdings Inc., Mitchell B Lewis, bought 11,900 shares of BXC on 11/07/2019 at an average price of $15.81 a share. The total cost of this purchase was $188,139. BlueLinx Holdings Inc is a distributer of building products in the United States. The company operates through a network of warehouses, supplying products such as plywood, lumber, roofing and insulation. BlueLinx Holdings Inc has a market cap of $143.560 million; its shares were traded at around $15.33 with and P/S ratio of 0.05.

The EVP Human Resources & CHRO of Patrick Industries (NASDAQ: PATK) is Selling Shares (Analyst Ratings)
Yesterday, the EVP Human Resources & CHRO of Patrick Industries (PATK), Courtney Blosser, sold shares of PATK for $384.4K. Following Courtney Blosser’s last PATK Sell transaction on December 07, 2018, the stock climbed by 17.1%. In addition to Courtney Blosser, one other PATK executive reported Sell trades in the last month.