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The American Lawyer

Appraisal Rights the Latest Tool for Yield-Hungry Hedge Funds

Hedge funds are shaking up in the business world with their newfound interest in the use of appraisal rights.
2 minute read

Litigation Daily

Goldman Sachs Can't Escape CDO Fraud Case

A New York appeals court has allowed a defunct Australian hedge fund, Basis Yield Alpha Fund, to proceed with a $1 billion fraud case against Goldman Sachs & Co. The ruling is a win for the small litigation boutique Lewis Baach, and a setback for Goldman's lawyers at Boies Schiller.
3 minute read

The American Lawyer

Wilson Sonsini, Skadden Advise as Singer Makes Moves

Elliott Management, the hedge fund founded by billionaire Harvard Law School graduate Paul Singer, has mounted a $3.1 billion takeover bid for Riverbed Technology. Elliott, an activist investor advised by Paul Weiss and New York's Kleinberg Kaplan, has also agreed to drop its opposition to the $8.3 billion sale of Celesio and reached an agreement with Compuware on the removal of a Dickinson Wright chairman emeritus and Honigman Miller partner from its board of directors.
5 minute read

The American Lawyer

Am Law 100 Firms Snap Up Red Lobster Work

Kramer Levin, Latham & Watkins, and Wachtell, Lipton, Rosen & Katz are advising on a battle between activist hedge funds and the management of Darden Restaurants, owner of the Red Lobster, Oliver Garden and Capital Grille brands. While Darden announced last week its plans to spin off the Red Lobster chain, some investors want a complete breakup of the company.
4 minute read

The American Lawyer

Haynes and Boone Helps Sears CEO Slash Stake in Retailer

Haynes and Boone is advising ESL Investments, a hedge fund controlled by Sears CEO Edward Lampert, on the reduction of its stake in the retail giant, which is seeking to sell off its Lands' End and Sears Auto Center businesses in an effort to cut costs and pay down debt.
6 minute read

The American Lawyer

Three Firms Advise as SAC Unloads Reinsurance Arm

A month after agreeing to a $1.8 billion settlement on insider trading charges, hedge fund billionaire Steven Cohen's SAC Capital Advisors has agreed to sell its SAC Re reinsurance arm to Hamilton Reinsurance Group for a reported $500 million to $1 billion.
5 minute read

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