Steven Cohen Wins Dismissal of $8 billion Fairfax Short-selling Lawsuit (Reuters)
(Reuters) – The billionaire Steven A. Cohen has won the dismissal of an $8 billion lawsuit accusing him and his former firm SAC Capital Advisors LP of conspiring with other hedge funds to spread false rumors about Fairfax Financial Holdings Ltd, hoping to “crush” or “kill” the insurer. In a decision last week, New Jersey Superior Court Judge Frank DeAngelis said the nearly 12-year-old case did not belong in that state’s courts because there was no evidence SAC expected or intended to cause injury there while “conspiring to drive down the share price of a Canadian company.”
Citadel Sues Like-Named Firms in Europe (Pensions & Investments)
Hedge fund and trading giant Citadel is suing firms and people in Estonia, Bulgaria and Austria for trademark infringement, making clear it won’t tolerate impostors, no matter how distant. The company’s Citadel Enterprise Americas and KCG IP Holdings entities filed two lawsuits in federal court in Chicago, alleging Citadel Tax Consulting and Citadel Capital, with their similar castle-like logos, violated U.S. and Illinois laws by infringing on its trademarks. The foreign firms and their operators used their businesses to “cause consumer confusion and to profit from the goodwill and value associated with the Citadel trademarks generally, and especially within the world of financial services,” said the lawsuits, filed March 30 in the U.S. District Court for Northern Illinois.
Wife of Hedge-Fund Titan Pays $60 Million for Manhattan Apartment (The Wall Street Journal)
Caryl Englander, the wife of billionaire hedge-fund titan Israel Englander, is the buyer of a $60.083 million apartment at 432 Park Avenue, the world’s tallest residential tower, according to two people familiar with the deal. The deal was one of the priciest to close in Manhattan last year, public records show. Ms. Englander, 64, purchased the apartment in a trust. She closed on the transaction in late December, property records show.
Insider Buying: Apollo Global Management LLC (NYSE:APO) Major Shareholder Purchases 100,000 Shares of Stock (TheLincolnianOnline.com)
Apollo Global Management LLC (NYSE:APO) major shareholder Tiger Global Management LLC acquired 100,000 shares of the company’s stock in a transaction on Friday, March 23rd. The stock was bought at an average cost of $30.34 per share, with a total value of $3,034,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission.