Forbes.com columnist Gary Weiss wants to know why the business news media hasn’t been covering the lawsuit filed by new hedge fund start-up Solengo Capital against the Dealbreaker.com blog for posting its “confidential” brochures.
Weiss wrote, “What makes the media’s neglect of this story especially curious is that the most interesting stuff is in court filings easily accessible via the web.
“This story is newsworthy not just because of its First Amendment implications, but because Solengo’s chief honcho is world-class money-loser Brian Hunter, who played the Captain Smith role in the Amaranth Titanic story. As FINAlternatives points out, Hunter ‘holds the distinction of being the only person in hedge fund history to single-handedly lose more than $6 billion dollars.’
“Hunter is also a first-class whiner, in addition to being a towering figure in red-ink-land.
“In an affidavit filed with the court, Hunter says that ‘my colleagues and I are attempting to grow [Solengo] into a multibillion-dollar commodity investment vehicle.’ (I can already hear the murmurings of ‘God forbid’…..)
“Standing in the way of this worthy endeavor is the evil, nasty, awful Dealbreaker! ‘Given the sensitive nature of the information contained in the Document, as well as the fact that Solengo is still in the very early stages of development, I believe that the continued, unauthorized dissemination of the Document by DealBreaker will cause severe damages that would be difficult if not impossible to quantify.'”
Read more here.
