Oh you can try a lawsuit but, historically speaking, it won’t do shit. Read more »
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Nasdaq Officials Would Just Like To Point Out That Anyone Who Lost Money As A Result Of The Exchange’s Incompetence Have Little To No Legal RecourseBy Bess Levin
Sir Philip Hampton said investors who owned RBS shares before its £45.5bn bailout in October 2008 were likely to be dead before the bank’s value recovered to anything close to its pre-crisis level. “I don’t think shareholders wealth is likely to be restored any time in my lifetime or some lifetimes beyond,” said Sir Philip, who was brought in as the bank’s chairman in January 2009. [Telegraph]
The promise of a proxy battle, unless they comply with every one of his demands (e.g. replace four board members with Loeb and three of his friends). Little bit of DL trivia for the Third Point historians among us: with this latest 13-D, Loeb is reclaiming his tradition of notifying adversaries of his intent to wage war on February 14 (previous recipients of similar love letters include Salton Inc, Star Gas Partners, and AEP Industries). Sure he could have waited a day here or there but he’s a true romantic at heart. Even more thoughtful would have been delivering a copy of the filing in person via Barbershop Quartet but perhaps he’ll save that for next year’s lucky lady. [SEC]
For the month ended January 31, 2009 Highbridge Long/Short Equity Fund, L.P. posted an estimated net return of -2.48%, bringing its year-to-date net return to -2.48%.
Highbridge Long/Short Equity Fund, L.P.
If you’re going to shame a “website” for putting up what was in fact a rumor, don’t send David Faber out on the air an hour later to muse that “Citadel has been down around 26 percent- or so they say” and then “from what I’m hearing, there are a lot of questions about forced selling out there.”