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.
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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.
New Peoples Bankshares (NWPP) Director B Scott White Buys 97,196 Shares (TheLincolnianOnline.com)
New Peoples Bankshares (OTCMKTS:NWPP) Director B Scott White bought 97,196 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The stock was acquired at an average price of $2.00 per share, with a total value of $194,392.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Buying: SunCoke Energy Partners LP (SXCP) Major Shareholder Buys 34,377 Shares of Stock (RegistrarJournal.com)
SunCoke Energy Partners LP (NYSE:SXCP) major shareholder Sun Coal & Coke Llc bought 34,377 shares of the stock in a transaction on Monday, March 26th. The stock was purchased at an average cost of $17.95 per share, for a total transaction of $617,067.15. The acquisition was disclosed in a document filed with the SEC.
Insider Selling: Kennedy-Wilson Holdings (KW) General Counsel Sells 24,350 Shares of Stock (StockNewsTimes.com)
Kennedy-Wilson Holdings (NYSE:KW) General Counsel Kent Y. Mouton sold 24,350 shares of Kennedy-Wilson stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $16.87, for a total transaction of $410,784.50. Following the completion of the sale, the general counsel now directly owns 424,128 shares of the company’s stock, valued at approximately $7,155,039.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Insider Selling: Lennox International (LII) Chairman Sells 25,058 Shares of Stock (LedgerGazette.com)
Lennox International (NYSE:LII) Chairman Todd M. Bluedorn sold 25,058 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $209.78, for a total transaction of $5,256,667.24. Following the completion of the transaction, the chairman now owns 214,976 shares of the company’s stock, valued at $45,097,665.28. The sale was disclosed in a document filed with the SEC.
ImmunoGen, Inc. (NASDAQ:IMGN) CFO Sells $115,300.00 in Stock (StockNewsTimes.com)
ImmunoGen, Inc. (NASDAQ:IMGN) CFO David Brannon Johnston sold 10,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $11.53, for a total transaction of $115,300.00. Following the transaction, the chief financial officer now directly owns 190,690 shares in the company, valued at approximately $2,198,655.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Insider Buying: Schlumberger (NYSE:SLB) CEO Buys 10,000 Shares of Stock (LedgerGazette.com)
Schlumberger (NYSE:SLB) CEO Paal Kibsgaard bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were acquired at an average price of $64.68 per share, with a total value of $646,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Shares of SLB stock opened at $63.48 on Tuesday. Schlumberger has a 52-week low of $61.02 and a 52-week high of $80.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. The company has a market cap of $89,651.19, a P/E ratio of 42.32, a price-to-earnings-growth ratio of 5.01 and a beta of 1.05.
