New York hedge fund Elliot Management Corp. has filed a legal complaint against business magazine AR: Absolute Return+Alpha asking a judge to force it to disclose how it obtained its quarterly letter to investors.
“‘Elliot’s legal action is an unusual move even in the opaque world of hedge funds,’ the magazine says in a post on its Web site, noting that it believes this to be ‘the first time a hedge fund manager has taken legal action against a publication in an attempt to uncover a source.’
“Elliot Management’s petition alleges that the disclosure of the fund’s performance would ’cause significant harm to Elliot and negatively affect its competitive advantage in relation to other market participants.’ AR: Absolute Return+Alpha published a story about the fund’s investor letter online on August 2 and has plans for a print version in the September edition of the magazine.”
Read more here.
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