Rajaratnam, Rajeswary Limite (goes by Raj) of Galleon Management, LP

Rajeswary Limite (goes by Raj) Rajaratnam of Galleon Management, LP

Wikipedia Profile

Media Releases

April 2015 Reuters article entitled “Supreme Court rejects Rajat Gupta’s insider trading appeal”

April 2015 Bloomberg article entitled “U.S. argues against reversal of Rajat Gupta Insider Trading Conviction”

February 2015 Reuters article entitled “Ex-hedge fund manager who cooperated in Galleon probe avoids jail”

October 2014 NY Times Dealbook article entitled “Varied Paths in Life After Galleon, but Few Led to Success”

October 2014 International Business Times article entitled “Convicted Galleon Group Trader Raj Rajaratnam Now Faces Tamil Terror Finance Lawsuit”

July 2014 Law360 article entitled “BREAKING: Raj Brother Cleared In 1st Insider Trading Loss For Bharara” (requires subscription)

July 2014 Law360 article entitled “Judge Won’t Toss Final Charge In Raj Brother Trial” (requires subscription)

July 2014 FIN Alternatives article entitled “Judge Junks Two More Counts Against Rajaratnam Brother”

July 2014 Law360 article entitled “Raj Brother Cleared On 2 Charges In Insider Trading Case” (requires subscription)

June 2014 FIN Alternatives article entitled “Supreme Court Rejects Rajaratnam Appeal”

June 2014 Bloomberg article entitled “Rengan Rajaratnam’s Jury Picked to Decide Insider Case”

June 2014 FIN Alternatives article entitled “En Route To Prison, Gupta Seeks Lower Fine”

April 2014 Reuters article entitled “Rajaratnam’s brother loses bid to dismiss insider trading charges”

April 2014 Bloomberg article entitled “Rajat Gupta Agrees to Surrender to Prison on June 17″

Excerpt: “Rajat Gupta, the former Goldman Sachs Group Inc. (GS) director convicted in a 2012 insider trading scheme tied to the Galleon Group LLC hedge fund, agreed to surrender to prison authorities on June 17 to begin a two-year sentence, a federal judge in Manhattan said.

Gupta, 65, lost a bid for a new trial last month, when a three-judge appeals panel upheld his conviction….”

March 2014 Bloomberg article entitled “Rengan Rajaratnam Judge Says Two Charges May Be Flawed”

November 2013 Reuters article entitled “Insider trading conviction of Galleon’s Rajaratnam stands”

September 2013 Reuters article entitled “US SEC charges former Akamai exec whose tips went to Rajaratnam”

August 2013 Forbes article entitled “The Fallacy Of Raj Rajaratnam’s Prison Stay”

August 2013 CNBC article entitled “Is Raj Rajaratnam really living like a prison king?”

August 2013 New York Post article entitled “Wall Street crook Raj Rajaratnam has cushy cell, ‘manservant’ at prison: insider”

June 2013 Bloomberg article entitled “Raj Rajaratnam Insider Conviction Upheld by Appeals Court”

June 2013 New York Times Book Review of The Billionaire’s Apprentice written by Anita Raghavan

March 25, 2013 Bloomberg article entitled “Rengan Rajaratnam Pleads Not Guilty to Insider Charges”

March 21, 2013 SEC Litigation Release entitled “SEC Charges Rengan Rajaratnam with Insider Trading” Rengan is the brother of Raj.

December 28, 2012 Reuters article entitled “Rajaratnam agrees to pay $1.5 million disgorgement in SEC case”

September 2012 NY Times Dealbook article entitled “A Key Witness in Rajaratnam Trial Is Set to Be Sentenced”

October 2011 Newsweek exclusive article entitled “Exclusive: Raj Rajaratnam Reveals Why He Didn’t Take a Plea”

September 2011 Vanity Fair article entitled “Crouching Tiger, Hidden Raj”

June 2011 New Yorker story entitled “A Dirty Business”

May 2011 Forbes article entitled “Raj Rajaratnam Guilty — Why Things Didn’t Go His Way”

A March 2009 article reveals that two funds controlled by foreign investor Raj Rajaratnam were believed to have sold out. Galleon Technology Offshore Limited held 17.4 million shares in JKH as of March 2009 and Galleon Diversified held 13.1 million shares.

A January 2009 article reveals Galleon Group’s Positions for the third quarter of 2008.

November 2008 – Sirf Technology Holdings Inc. (SIRF), San Jose, Calif., has filed a form 4 with the Securities and Exchange Commission noting the change in the beneficial interest held by 10 percent owner Raj Rajaratnam, New York. On Nov. 12 the action involved acquisition of 250,000 shares of stock. He now owns 7.55 million shares of stock indirectly.

September 2008 – A man of Sri Lankan origin is also on the Forbes list. Raj Rajaratnam (rank 262), with a wealth of $1.8 billion, founded hedge fund Galleon Group in 1997, making big bets on health care and technology companies. Today the firm manages $7.5 billion across six funds.

A July 2008 company profile of PeopleSupport Inc reveals that The Galleon Group manages funds that control about 27% of the company.

PeopleSupport and Galleon Group reached an agreement in March 2008. The board will expand by one to make it an eight-person team. Galleon wants to maximize PeopleSupport shareholder value.

Galleon Group is setting up a Singapore based operation to manage its $1.1 billion Asian long/short equity fund in 2008.

Raj Rajaratnam of Galleon Group and Mark Kingdon of Kingdon Capital both fell off the annual list of the highest paid in the Alpha Magazine Crowns the Kings of Cash article. The cut-off was $210 million. (They pulled $200m).

In November 2007, Galleon Group bought a lot of Advance Micro Devices (AMD) shares.
“The SEC announced today the entry of final orders in actions against Galleon Management, Oaktree Capital Management and DB Investment Managers for illegal short sale activity in connection with 22 follow-on offerings. In total, the SEC will collect close to $2.4 million in disgorgement, penalties and pre-judgment interest in the three cases.” “Galleon will pay a civil penalty of $870,000; return $1 million in ill-gotten gains and $110,000 in interest.” (May 19, 2005)

Galleon Management purchased 5.2 % stake in Emmis Communications in 2007.

Sanjay Santhanam of RPP provided key support for data analysis for the National Study of Charter Schools report.

Mr. Rajaratnam sold 5% of the Commercial Bank of Ceylon Ltd to a Middle Eastern fund. (August 2005)

Our search located a court docket regarding the aforementioned lawsuit by Gary and Susan Rosenbach and Raj and Asha Rajaratnam against Diversified Group Inc, KPMG LLP, James Haber and John Schrier. The plaintiffs (Rosenbachs and Rajaratnams) allege that the defendants marketed, promoted and sold what defendants represented was a legitimate low-risk investment strategy but really was an illegal tax shelter. In 2004 the IRS notified the plaintiffs that they had participated in an illegal tax shelter. In 2005 the plaintiffs settled with the IRS, resulting in a loss of $15 million.

Raj Rajaratnam was a speaker at the CIMA global leaders summit in Sri Lanka. (July 2005)

Mr. Rajaratnam pledged $5 million from his personal fortune to rebuild Sri Lanka after the Tsunami. The article also cites Mr. Rajaratnam’s previous charitable contributions to efforts to remove land mines in his native country of Sri Lanka. (February 2005)

Letter from Mr. Rajaratnam detailing his strategy to help rebuild Sri Lanka after the Tsunami disaster and urging others to help in the relief effort (January 2005)

Mr. Rajaratnam, in addition to his own pledge of $5 million, organized a fund raiser for the Tsunami relief effort that raised $3 million (January 2005)

Raj Rajaratnam’s brother, Rengan Rajaratnam launched his own hedge fund, in June of 2004 with Sedna Capital. (April 2004)

Article notes that Raj Rajaratnam’s Galleon Omni Technology fund was down 27% from its high in 2003. (June 2003)

Article reports that The Galleon Group was experiencing trouble when its asset base grew over $5 Billion since 1998. (May 2001)

“The $1 billion lawsuit filed by Galleon chief Raj Rajaratnam against his former partner, Krishen Sud, has been settled.” (October 17, 2001) The charge was that Krishen Sud took contacts and lists when he left Galleon. He (Sud) also hired away analysts. The case was settled with no details to us.

Several articles from 2001 detail a dispute between Raj Rajaratnam and former partner Krishen Sud was found. Rajaratnam filed a $1 billion dollar lawsuit against Mr. Sud, claiming that when Sud left the company he took investor lists and broker contacts with him. He also claims that Sud hired away several employees from Galleon in order to start a new company, Argus Partners. Before the suit could reach court a settlement was made. Sources mention that Rajaratnam was pressured by investors to reach an agreement quickly. The terms of the settlement are not available. (2001)
In 2000, Krishen Sud, $48m and Raj Rajaratnam $34m made the highest earners list on Wall Street.
Mr. Rajaratnam bought fund, Needham Emerging Growth Partnership, in 1992 from Needham & Company and renamed it Galleon. Galleon officially started in Jan of 1997. (October 2000)

An article on Raj Rajaratnam indicates he is described as one of American’s “superstar” fund managers and was featured among the elite US money managers in a book entitled “The New Investment Superstars: 13 Great Investors and Their Strategies for Superior Returns.”

Cohen, Steven Alan of SAC Capital Advisors, LLC

Steven Alan Cohen of Point72 (formerly SAC Capital Advisors, LLC )

Cohen, Steven Alan

Forbes profile in which Mr. Cohen is ranked #109 among the world’s billionaires

Media Releases

October 2014 The New Yorker article entitled “The Empire of Edge
How a doctor, a trader, and the billionaire Steven A. Cohen got entangled in a vast financial scandal.”

July 2014 FIN Alternatives article entitled “Cohen Sells Painting At Christie’s London”

May 2014 Dealbreaker article entitled “SAC’s Steinberg Gets 3.5 Years Despite Raising $22.50 In Brownie Sales For Friend In Need Of A New Heart”

May 2014 Reuters article entitled “SAC’s Steinberg loses bid for insider trading acquittal”

May 2014 Bloomberg article entitled “SAC’s Steinberg Pins Hope For Leniency to Charity Claims”

May 2014 New York Post article entitled “SAC’s Steinberg faces sentencing with faint hopes”

April 2014 Reuters article entitled “SAC’s Steinberg asks for two-year sentence”

April 2014 Hedge Fund Oracle post entitled “Forbes’ 20 Highest-earning Hedge Fund Managers and Traders” in which Mr. Cohen is ranked #3

April 2014 Reuters article entitled “U.S. judge accepts SAC guilty plea, approves $1.2 bln deal”

April 2014 Law360 article entitled “SAC Wins Approval For Landmark $1.2B Insider Trading Pact” (requires subscription) “A New York federal judge on Thursday accepted SAC Capital Advisors LP’s guilty plea to insider trading charges as part of a historic $1.2 billion settlement with U.S. authorities…”

April 2014 Bloomberg article entitled “SAC Faces Final Reckoning for 14 Years of Insider Scheme”

April 2014 Bloomberg article entitled “Cohen Hires Tortorella as Surveillance Chief for Point72″

April 2014 Reuters article entitled “SAC seeks Bart Schwartz as consultant in insider trading plea”

March 2014 Bloomberg article entitled “‘Remorseful’ SAC Urges Approval of Insider Trading Pact”

March 2014 Business Insider article entitled “SAC Capital Has Hired Palantir Technologies In Its Effort To ‘Better Detect Improper Activity’”

March 2014 CNBC article entitled “SAC’s Cohen considering settling civil case with SEC”

March 2014 NY Times Dealbook article entitled “Two SAC Capital Traders Jump to Highbridge Capital”

March 2014 New York Post article entitled “Tenth SAC exec admits to insider trading”

March 2014 Bloomberg article entitled “Cohen Changes SAC Name to Point72 in Family Office Shift”

March 2014 Business Insider article entitled “Former SAC Trader Mathew Martoma Just Lost His Stanford MBA”

February 2014 Reuters article entitled “Ex-SAC trader Martoma seeks to toss insider trading conviction”

February 2014 ValueWalk post entitled “SAC Capital Is Hiring A New Chief Surveillance Officer”

February 2014 Bloomberg article entitled “SAC Returns Most Client Money in Shift to Family Office”

February 2014 Bloomberg article entitled “SAC Compliance Head Quits After Insider Cases Hit Firm”

February 2014 Bloomberg article entitled “SAC Capital Insider Jury Seeks Testimony Favoring Defense”

February 2014 Bloomberg article entitled “Martoma a Victim of Intent to Charge Cohen, Defense Says”

January 2014 Bloomberg article entitled “Cohen Trading Strategy a ‘Dangerous’ Topic, Judge Says”

January 2014 NY Daily News article entitled “Judge lectures billionaire Steven Cohen, ex-wife over post-divorce court spats”

January 2014 Reuters article entitled “U.S. rests its case in insider trading trial of SAC’s Martoma”

January 2014 Reuters article entitled “SAC’s Cohen wins partial dismissal of ex-wife’s fraud lawsuit”

January 2014 Bloomberg Businesweek article entitled “Why SAC Capital’s Steven Cohen Isn’t in Jail”

January 2014 Reuters article entitled “Martoma a ‘grain of sand’ in probe of SAC’s Cohen -witness”

January 2014 Bloomberg article entitled “Martoma Expert Witness Testimony Sought Barred by U.S.”

January 2014 Law360 article entitled “Feds Urge Jury To Convict Ex-SAC Trader Martoma” (requires subscription)

January 2014 Reuters article entitled “Doctor tells of giving secret information to SAC’s Martoma”

January 2014 Bloomberg article entitled “Weill Named Chairman of Reinsurer as Cohen’s SAC Exits”

January 2014 Bloomberg article entitled “Ex-SAC Manager Martoma Loses Bid to Use Cohen’s Testimony”

January 2014 Bloomberg article entitled “SAC Trial Seen by Probe Convict as Latest Abusive Tactic”

January 2014 Bloomberg article entitled “SAC Becomes Family Office as Cohen Awaits SEC Case on His Future”

January 2014 Reuters article entitled “Trial to focus on trades by SAC’s Cohen”

January 2014 Bloomberg article entitled “SAC’s Cohen Focus of Trial as Martoma Rebuffs U.S.”

January 2014 Reuters article entitled “Cohen’s SAC ends life as hedge fund with double-digit returns”

November 2013 Bloomberg article entitled “New SAC E-Mails Given Martoma as Steinberg Heads to Trial”

October 2013 CNBC video/article entitled “The big money behind the Cardinals, Red Sox”

October 2013 Bloomberg article entitled “Steven A. Cohen’s Baseball Dream Strikes Out in Hedge-Fund Plea”

October 2013 Bloomberg article entitled “SAC Agrees to Plead Guilty to End Insider-Trading Case”

October 2013 Bloomberg article entitled “Cohen’s Dream of Soros Status Dies as SAC Pleads Guilty”

October 2013 Bloomberg article entitled “SAC Trader Lia Forcina Said to Leave Hedge Fund for BlueCrest”

October 2013 Bloomberg article entitled “SAC Defections Accelerate as Cohen Approaches Settlement”

October 2013 The Telegraph article entitled “SAC heads towards $1bn insider trading settlement with US authorities”

October 2013 Bloomberg article entitled “Billionaire Cohen’s Art May Fetch $60 Million at Auction”

September 2013 Reuters article entitled “Cohen’s SAC Capital up 13 pct for year”

September 2013 Reuters article entitled “Insider trading trial of SAC’s Martoma delayed to January”

September 6, 2013 Bloomberg article entitled “Second Martoma Tipper Identified as SAC Trial Nears”

August 19, 2013 Daily Finance article entitled “Lawyers Secure Pact to Keep Steven Cohen’s SAC Operating”

August 13, 2013 Reuters article entitled “SAC Capital affiliate Parameter Capital closes”

July 28. 2013 Huffington Post article entitled “SAC Capital CEO Steven Cohen Throws A Party Despite Indictment”

July 22, 2013 Bloomberg News video & article entitled “SEC Tries Last Ditch Move to Put SAC’s Cohen Out of Work”

July 19, 2013 SEC Litigation Release entitled “SEC Charges Steven A. Cohen With Failing to Supervise Portfolio Managers and Prevent Insider Trading”

July 19, 2013 Reuters article entitled “SEC seeking to ban SAC’s Cohen from financial industry”

July 4, 2013 Wall Street Journal article entitled “SAC Capital’s Steven Cohen Expected to Avoid Criminal Charges”

June 30, 2013 Insider Monkey feature entitled “Steven Cohen Bio, Returns, Net Worth”

June 2013 Bloomberg article entitled “SAC Insiders Said to See Most Client Cash Gone by 2014″

June 2013 Financial Times article entitled “SAC’s referendum creates twin challenge for embattled hedge fund” (requires subscription)

June 2013 Vanity Fair article entitled “The Hunt for Steve Cohen”

May 2013 Bloomberg article entitled “Four SAC Executives Are Said to Receive U.S. Subpoenas”. The individuals are:
Tom Conheeney, President of SAC
Steve Kessler, head of compliance
Phillipp Villhauer, head trader
Solomon Kumin, Chief Operating Officer

May 2013 Reuters article entitled “Prosecutors consider using racketeering law against SAC”

May 2013 Reuters article entitled “Prosecutors’ subpoena of SAC’s Cohen puzzles defense lawyers”

May 2013 New York Post article entitled “Elan shareholders sue Cohen’s SAC Capital for nearly $1B”

April 2013 The Guardian article entitled “SAC Capital insider trading charges: is a cursed Picasso painting to blame?”

March 28, 2013 Reuters article entitled “U.S. judge holds off ruling on SAC Capital-SEC deal”

March 20, 2013 Reuters article entitled “SAC Capital up 4 percent this year as probe continues”

March 2013 HedgeFundX post entitled “Cohen’s SAC tells investors that government scrutiny is not over”

March 2013 Forbes article entitled “SEC’s $600M Slap To Steve Cohen’s SAC Fund Not Bad After Taxes”

February 2013 Business Insider post entitled “Steve Cohen More Than Doubled His Pay Between 2011 And 2012″

February 2013 Bloomberg article entitled “SAC’s Cohen May Face SEC Suit as Deposition Hurts Case”

February 2013 Reuters article entitled “UPDATE 2-SAC has $1.68 bln in withdrawals as trading probe deepens”

January 2013 Bloomberg article entitled “SAC to Close Chicago Office With Four Investment Teams”

January 2013 Bloomberg article entitled “Cohen’s SAC Tops Most Profitable List Amid Insider Probes”

A January 2013 Associated Press story entitled “Ex-hedge fund manager pleads not guilty in NYC”, covers Matthew Martoma’s insider trading case. Mr. Martoma worked for a division of SAC Capital and the article mentions his trading recommendations to Steven Cohen.

December 2012 Bloomberg article entitled “Why Hasn’t Ex-SAC Capital Manager Mathew Martoma Turned on Steve Cohen?”

December 2012 Bloomberg article entitled “SAC E-Mails Show Steve Cohen Consulted on Key Dell Trade”

December 2012 New York Times article entitled “A Fascination of Wall St., and Investigators”

December 2012 Forbes article entitled “Feds Tighten Belt Around Cohen’s SAC With Weight Watchers Probe, Says Reuters”

December 2012 New York Times story entitled “A Big Art Lover, and Moneyman, Is Missing at the Fair”

December 2012 Time Magazine article entitled “Can the Federal Government Really Deter Insider Trading?”

December 2012 Fox Business article entitled “Analysis: SAC’s Cohen shows no signs of retreat despite scandal”

December 2012 New York Times Dealbook post entitled “Trail to a Hedge Fund, From a Cluster of Cases”

November 2012 Huffington Post story entitled “Steve Cohen, Super-Rich And Secretive Trader, Faces Possible SEC Investigation”

SAC Company Website

Wikipedia Profile

March 2011 NY Times Dealbreaker article entitled “65 Alternative Investment Managers on Forbes Richest Billionaires List”

In March 2010 The Justice Department launched an investigation into whether hedge funds might have banded together to drive down the value of the euro. In a letter, the department asked hedge funds including SAC Capital Advisors LP, Greenlight Capital Inc., Soros Fund Management LLC and Paulson & Co to retain trading records and emails relating to the euro.

In February 2010 NY prosecutors arrested Milton Balkany, an Orthodox Jewish rabbi and director of religious school in Brooklyn, for trying to persuade SAC Capital to donate $4 million to two schools in return for keeping an unnamed imprisoned investment manager from talking about the fund’s alleged insider trading deals. According to the government’s allegations, Mr. Balkany was trying to take advantage of media reports that prosecutors might be targeting SAC in an ongoing investigation into insider trading in the hedge fund industry. Legal sources identified Hayim Regensberg as the inmate whom Mr. Balkany said he had spoken to about SAC. Mr. Regensberg was convicted last year of defrauding about a dozen people in a three-year long Ponzi scheme. He is now serving an eight-year sentence at the Otisville prison.

In February 2010 it was reported that six-months after a New Jersey judge dismissed a lawsuit filed by Biovail against SAC, SAC filed a lawsuit in federal court in Connecticut seeking damages from Biovail for having filed a “vexatious” lawsuit against it in 2006. Cohen’s hedge fund seeks to recoup its legal expenses plus damages. In the complaint, SAC said it incurred “tens of millions of dollars in unnecessary legal fees” and “incalculable damage to its reputation.”

In 2009, federal regulators accused a former Blackstone Group investment banker, Ramesh Chakrapani, of tipping off a friend about the 2006 buyout of the Albertsons supermarket chain. In January 2010 that friend was revealed to be Jonathan Hollander, a former analyst at SAC. The sources also confirmed that the firm where the trading in question took place in January 2006 is CR Intrinsic Investors, an SAC subsidiary.

In December 2009, Patricia Cohen sued ex-husband Steve Cohen for hiding millions from her and her children at the time of their divorce nearly 20 years ago, and saying that Cohen confessed to insider trading in the 1980s. Ms. Cohen sought $300 million, and filed the suit under a civil version of the Racketeer Influenced and Corrupt Organizations Act, or RICO, typically used against organized crime. In January 2010, Paul Batista, Ms. Cohen’s original lawyer, dropped the lawsuit, allegedly without her authorization. Patricia Cohen had since switched lawyers, and maintained that the lawsuit was still ongoing.

A December 2009 article (http://www.businessinsider.com/steve-cohen-was-on-a-trashy-talk-show-talking-about-cheating-on-his-wife-2009-12) included a link to a 1992 video clip of Mr. Cohen and his wife Alexandra Cohen on the talk show “Cristina”. The premise of the show was second wives complaining that their husbands won’t break free of their exes. The show was centered around Alexandra’s complaint that Mr. Cohen was cheating on her with his ex, Patricia Cohen.

In December 2009 it was reported that Airvana Inc. and its proposed acquirers, including a unit of Blackstone Group LP and an affiliate of SAC Capital Advisors LP, were sued by an investor seeking to block the $530 million deal.

In November 2009 SAC Capital Advisors announced that, in an internal inquiry, they found no suspicious trading in stocks named in Galleon Group insider-trading case. Neither SAC nor Steven Cohen has been accused of any wrongdoing. Investigators are expected to examine trading at SAC, the Wall Street Journal reported November 7, 2009.

In November 2009 it was reported that federal authorities are investigating the activities of Mark Adams, a former analyst at Balyasny Asset Management, in connection with the Galleon insider trading case. The Wall Street Journal reported the Adams allegedly gave material nonpublic information about EMC Corp. EMC to Steven Fortuna, co-founder and principal of Boston-based hedge-fund firm S2 Capital Management. From July 2005 to December 2007, Adams worked at SAC Capital Advisors. Balyasny and SAC haven’t been accused of any wrongdoing and the firms haven’t been subpoenaed or contacted by authorities, the Journal said.

In October 2009 Richard Grodin, a former portfolio manager at SAC Capital Advisors and Sigma, received a subpoena seeking trading records related to the Galleon insider trader scandal. Grodin left SAC in January 2004 to set up Stratix Asset Management. The subpoena doesn’t suggest wrongdoing by Richard Grodin, nor does it suggest that Mr. Cohen, has been implicated in any way, or that he knew about any trading by Mr. Grodin.

Richard Choo-Beng Lee was identified as a cooperating witness in the insider trading case brought by federal prosecutors against Galleon founder Raj Rajaratnam and 18 others. Lee’s Oct. 8 cooperating agreement with authorities stated that he wouldn’t be prosecuted further for any crimes related to his participation in insider trading between roughly 1999 and 2004 in connection with his employment at “a certain hedge fund located in Connecticut, and its affiliate(s).” He worked at SAC Capital from 1994 to 2004. The cooperation agreements do not accuse Cohen or anyone else at SAC of wrongdoing.

Mr. Lee also worked as an analyst with Richard Grodin at Sigma and Stratix. Lee left Stratix and formed Spherix with Ali Far. Far has been identified as another cooperating witness in the case. The Wall Street Journal reports Shammara Hussain, a 23-year old assistant for Grodin and Lee, passed along inside information on Google.

It was reported that in March 2009, Mr. Lee, after striking the deal to assist the government, attempted to be re-hired at SAC Capital. Mr. Cohen declined to hire Mr. Lee because he was suspicious about the recent and abrupt closure of Mr. Lee’s hedge fund, Spherix. Rival hedge fund managers said shutting the fund amid such good returns aroused suspicions that something was amiss.

In August 2009 it was reported that New Jersey Superior Court Judge Donald Goldman had dismissed the Biovail lawsuit. The lawsuit sought $4.6 billion in damages from 22 defendants including SAC Capital, Steven A. Capital, SAC Healthco, Pinnacle Investment Advisors, Helios Equity Fund, and Hallmark Funds. The judge said the court lacked jurisdiction and Biovail failed to “state a cause of action.” In February, New Jersey Federal District Court Judge Stanley Chesler dismissed a similar suit filed by several Biovail shareholders against SAC. The judge ruled Biovail had violated ethics rules in order to get material that could be used in the case and that the investors’ lawyers failed to properly investigate the allegations.

In April 2009 Mr. Cohen hosted an art show at Sotheby’s in New York. The pieces, owned by Cohen and his wife, Alexandra, all depict women. They have a combined market value of about $450 million. As of March 6, SAC owned 5.9 percent of Sotheby’s, up from 4.6 percent on Dec. 31.

Steven A. Cohen’s SAC Capital Advisors gained 3 percent in March 2009 and 10 percent in the first quarter.

In March 2009, Forbes ranked Mr. Cohen’s net worth at $5.5 billion, down from $8 billion in 2008.

In February 2009 it was reported that the SEC was examining the situation involving insurer Fairfax Financial Holdings Ltd, and allegations that that several hedge funds conspired to drive down its stock price by using advance notice of an analyst’s negative report about the company. Fairfax Financial, a Canadian property and casualty insurer, brought the allegations in a lawsuit filed in July 2006 in state court in New Jersey. Documents submitted in the ongoing case indicate that executives of the hedge funds discussed the upcoming report of the analyst, John Gwynn of Morgan Keegan Inc. The hedge funds (SAC Capital Advisors, Third Point LLC and Kynikos Associates) used knowledge of Gwynn’s report before its public release to bet against Fairfax Financial’s stock by short-selling it, the insurer alleges. A November 2009 article stated that the suit, filed in 2006, was still open, that that Fairfax’s lawyers are expected to start taking depositions of some of the hedge funds’ executives and traders soon. The SEC served a subpoena on Fairfax’s lawyers, seeking copies of all emails and trading reports the hedge funds had turned over to the insurer during the initial discovery process in the litigation. The subpoena specifically requested information concerning any trading activity ‘that gave SAC a financial interest in the rise or fall’ of Fairfax’s share price.

In February 2009, a U.S. Federal Court judge has dismissed a $4-billion class-action lawsuit filed in 2006 by shareholders of Biovail against a group of Wall Street hedge funds including SAC Capital Advisors LP. The lawsuit, filed by Guy Del Giudice, alleged the funds had conspired to drive down Biovail’s share price in 2003. In his ruling, U.S. District Judge Stanley Chesler sanctioned the lawyers who filed the lawsuit for violating a judge’s order that had sealed some of the information they cited in the filing. He said Biovail’s lawyers drafted both the shareholder lawsuit and the company’s lawsuit as part of a “choreographed strategy” to counterattack critics who had previously sued the company.

In February 2009, Ron Insana left SAC Capital after six months on the job. He had been hired as a managing director with a focus on strategic development.

In February 2009, Michael Corcell, who focused on US equities at SAC Capital in London, left the company.

In January 2009 it was reported that SAC Capital Advisors saw its Multi-Strategy Fund lose 13% through November 2008, “even though the fund is supposed to make money in any environment.”

In January 2009 Orient-Express Hotels Ltd. confirmed that it was served with a petition in Bermuda by DE Shaw and CR Intrinsic (SAC Capital). The petition alleges, among other things, that the Company’s current ownership and voting structure is unlawful under Bermuda law, and that the Board exercised its fiduciary powers for an improper purpose in causing or procuring Orient-Express Holdings 1 to acquire, hold and/or vote Class B shares of Orient-Express Hotels Ltd. CR Intrinsic Investors, operates out of Stamford, Connecticut, and focuses on using primary research to develop investment ideas.

In January 2009 it was reported that SAC Capital Advisors had slashed holdings in a number of retailers and small pharmaceutical companies at the end of 2008.

A January 2009 article reported that Steven Cohen’s psychiatrist, Dr. Ari Kiev, who works exclusively for SAC Capital, has recently been in high demand.

In December 2008 the planning and zoning commission in Greenwich, CT, approved Mr. Cohen’s application for a special permit to add about 1,145 square feet to his 35,000-square-foot house at 30 Crown Lane. The house already sports a basketball court, an indoor pool and an ice rink complete with a garage for the Zamboni machine. According to this story by The New York Times’s Peter Applebome, the add-on is to include more storage, a garden room, a breakfast room and an expansion of the “his” dressing room.

In December 2008 SAC Capital Advisors LLC told investors they may withdraw money prematurely from its Multi-Strategy Fund.

In November 2008 SAC Capital dismissed a team of seven portfolio managers and assets. The job cuts came at CR Intrinsic Investors, one of the firm’s four main portfolios, which was especially hard hit in October, including a bet against German carmaker Volkswagen, which rallied on the news that Porsche was seeking to gain a majority stake in VW. SAC dropped 11% in November, leaving it down 18% for 2008.

In November 2008 it was reported that according to regulatory filings with the U.S. Securities and Exchange Commission, SAC held 1.7 million BCE shares as of Sept. 30. With yesterday’s plunge, that size of holding would have lost $22-million in value in one day.

In October 2008 it was reported that Paul Tudor Jones and Steven Cohen had sold assets to raise cash. Cohen’s SAC Capital Advisors, reportedly built up cash reserves to 50% of assets.

In September 2008 David Rocker was dropped as a defendant in the Fairfax Financial Holdings Ltd lawsuit against Cohen, SAC, and others.

In September 2008 David and Simon Reuben joined a revolt by shareholders at the Orient Express for changing its corporate governance structure. The luxury hotel chain operator had came under pressure from two influential hedge funds led by Steven Cohen as well as DE Shaw to cancel the special anti-takeover voting right shares vested with its promoters. Cohen-led CR Intrinsic Investments and Shaw-led DE Shaw Valence together hold 14.3 per cent stake in the company.

In June 2008 it was reported the SAC Capital Advisors is shutting its New York-based Sigma Capital Management’s debt business. Other SAC companies include Canvas Capital Management, which is based in San Francisco and currently invests in US equities, primarily in the technology sector and in Asian securities.

An April 2008 provided more detail into Andrew Tong’s lawsuit against SAC. Mr. Tong alleged that SAC ordered its traders to take female hormone pills “to help erase his aggressive male ways so he could be more effeminate in his trading style”

In March 2008, the U.S. Securities and Exchange Commission sued Biovail and some of its former officers, for accounting fraud, particularly that “Biovail actively misled investors and analysts about the reasons for the company’s poor performance”. Biovail settled for $10 million.

In February 2008, a group of Pharmion Corp. shareholders, including financier Steven A. Cohen, believes its pending takeover by biotechnology company Celgene Corp. undervalues the drug maker.

In January 2008 SAC Capital president Brian Cohn left the firm.

An October 2007 article reveals that Christopher Dodd’s presidential campaign’s largest contributor is SAC Capital, the influential Greenwich hedge fund run by Steven A. Cohen, whose employees have collectively given $344,100.

A September 2007 article announcing Forbes magazine’s list of the 400 richest Americans reveals that Steven Cohen of SAC Capital Advisors was the richest hedge fund manager with $6.8 billion, and was ranked 47th overall.

A September 2007 article details the re-ignition of Biovail Corp.’s well-publicized conspiracy suit against short-sellers and analysts, including SAC Capital and Steven Cohen. Biovail claims that it was the victim of a conspiracy to spread false information about it in an effort to depress its stock and profit. The company’s chairman at the time, Eugene Melnyk, appeared on 60 Minutes to tout the complaint.

A September 2007 article announces that a group of prominent American hedge funds have failed to get a $6-billion lawsuit against them by Prem Watsa’s Fairfax Financial thrown out of NJ court. Fairfax alleges the hedge funds were engaged in racketeering and hired a man named Spyro Contogouris to ‘beat up’ its stock as a way of profiting from short selling its shares. The money firms, among them SAC Capital, Exis Capital, Sigma Capital and Rocker Partners, deny using any dirty tricks and allege Mr. Watsa’s company sued them in order to silence its critics and deter investors from shorting its stock.

A July 2007 article announces that investors have approached Steven A. Cohen, offering to buy up to 20% of SAC Capital, according to sources with knowledge of the discussions. However, neither Cohen nor officials of SAC are commenting on the potential stake sale.

In May 2007 it was reported that Mr. Cohen purchased a 10-bedroom, two-acre estate at 96 Further Lane in the Hamptons, listed for $19.95 million by Corcoran Group.

In a March 2007 article Take-Two Interactive Software Inc. announced that it may sell itself after investors including Steven Cohen’s SAC Capital Advisors LLC and Oppenheimer Funds Inc. said they planned to install their own directors and fire chief executive Paul Eibeler.

A March 2007 article describes the allegations that several hedge fund managers, including SAC founder Steven Cohen, had successfully brought down Fairfax’s share price to make hundreds of millions of dollars buying cheap stock. All the defendants, including Cohen, denied wrongdoing.

A March 2007 article announces that Steven A. Cohen’s activist investment group, SAC Capital Advisors LLC, may take on billionaire investor Carl Icahn for up-market homebuilder WCI Communities Inc. The articles reveals that SAC also holds a 9.5% stake in the company, or 4 million shares in the Bonita Springs, FL builder.

A February 2007 article announces that Hedge fund magnate Steven A. Cohen is running with a new crowd on Wall Street. After hiring a seasoned private equity dealmaker in December, Cohen’s $12 billion SAC Capital Partners teamed up with buyout king Kohlberg Kravis Roberts & Co. on a $3.1 billion deal for the higher learning outfit Laureate Education Inc. in late January.

A February 2007 article reveals details of a lawsuit brought by Biovail Pharmaceuticals against SAC Capital, the hedge fund run by investor Steven A. Cohen. Apparently, Biovail alleges that the research company Gradient Analytics conspired with SAC Capital and produced negative reports, driving down Biovail’s share prices for the benefit of SAC and other short sellers.

A January 2007 article reveals that SAC Capital has a 5% stake in Build-A-Bear Workshop, a purveyor of adorable stuffed animals. The position reflects SAC’s new tactics amid increased competition in the hedge fund industry. Steven Cohen is trying to shed his reputation for being an aggressive quick-fire trading guru and focus more on long-term investments.

Stamford CT-based SAC’s 13F filing with the SEC for the period ending September 30, 2006, shows assets at $9.6 billion with 1620 investment holdings.

Stamford CT-based SAC’s 13F filing with the SEC for the period ending December 31, 2005, shows assets at $8 billion with 1803 investment holdings.

SAC Capital’s recent 13F filing with the Securities and Exchange Commission for the period ending June 30, 2005 shows assets at $10.9 billion for 2137 investment holdings. This compares with $10.6 billion for the March 31, 2005 filing and $8.6 billion at the end of 2004.

Dec. 2006: SAC Capital Advisors, the $10 billion hedge fund firm run by Steven Cohen, has more than doubled its stake in Phelps Dodge and will oppose a takeover of the copper mining company by Freeport-McMoRan Copper & Gold. Cohen said that SAC had rejected the Freeport offer of $26.4 billion because it failed to ”provide full and fair value” to Phelps Dodge shareholders.

In July 2006, Canadian insurer Fairfax Financial Holdings filed a lawsuit in New Jersey court seeking $5 billion from a group of hedge funds, alleging that they pushed its stock down by spreading false rumors and misleading research about its finances in a “massive and fraudulent disinformation campaign.” The defendants include SAC Capital Management, Steven Cohen, Exis Capital, Andrew Heller, Third Point Partners, Daniel Loeb, Rocker Partners, David Rocker, Lone Pine Capital, Trinity Capital and other hedge funds as well as John Gwynn, a Morgan Keegan analyst.

In Feb. 2006, The Biovail Corporation, Canada’s largest drug maker, filed a lawsuit in New Jersey Supreme Court yesterday, seeking damages of $4.6 billion from 22 defendants. Among the defendants are SAC Capital, Steven A. Capital, SAC Healthco, Pinnacle Investment Advisors, Helios Equity Fund, and Hallmark Funds.

In January 2003, Michael Zimmerman, a trader with SAC came under SEC scrutiny for allegedly trading on information in company reports written by his wife, Holly B. Becker, a noted Lehman Brothers Internet analyst, before they were published. This situation was mentioned in several articles. Although SAC was not under investigation, Becker and Zimmerman were served with Wells Notices. SAC claimed that if anything happened, it was before Zimmerman joined the company. A Business Week article about Cohen also discussed another possible conflict of interest with one of SAC’s traders.

SAC Capital allegedly contacted ImClone CEO Sam Waksal, who was involved in the Martha Stewart situation, on the same day Stewart talked to him. Their phone call, according to the company, was never returned and SAC lost millions in a long position on ImClone.

Cohen began collecting art in 2000. In 2003, the New York Times reported that in a 5-year period, Cohen spent 20% of his income at art auctions. He is reportedly building a private museum for some of his artwork on his Greenwich property. In the winter of 2005 it became known that in 1999 Cohen had bought Edvard Munch’s “Madonna”. Reportedly this was for $11.5 million, a record price for any Munch painting.

In addition, in 2006 Cohen bought a landscape entitled “Police Gazette” by artist Willem de Kooning for $63.5 million from David Geffen. Also in 2006, Cohen attempted to make the most expensive art purchase in history when he offered to purchase Picasso’s Le Reve from casino mogul Steve Wynn for $139 million. Just days before the painting was to be transported to Mr. Cohen, Mr. Wynn, who suffers from poor vision, accidentally thrust his elbow through the painting while showing it to a group of acquaintances inside of his office at Wynn Las Vegas. The purchase was cancelled, and Mr. Wynn still holds the painting.

A Business Week article that was found goes very in depth into SAC Capital’s inner workings, in addition to Steven A. Cohen’s nature and lifestyle. http://www.businessweek.com/magazine/content/03_29/b3842001_mz001.htm

In 1995, the New York Stock Exchange censured Mr. Cohen for inflating the price of a penny stock to increase the value of a portfolio he managed. The manipulation took place in 1991, when Mr. Cohen worked at Gruntal & Company. As a penalty, Mr. Cohen agreed to a four-week ban from “employment or association in any capacity” with any broker-dealers on the exchange.

Hallac, Albert D. of Weston Capital Management, LLC

Albert D. Hallac of Weston Capital Management, LLC

LinkedIn Profile

Bloomberg Businessweek Executive Profile

Zoom Info Profile

Media Releases

June 2014 Hedge Ho post entitled “Hedge Fund Firm Charged With $17 Million Fraud Scheme”

June 2014 Hedgeweek article entitled “SEC charges hedge fund advisory firm over scheme to misuse investor proceeds”

June 2014 Law360 article entitled “Weston Capital Settles SEC Claims Over $17M Investor Fraud” (requires subscription)

June 2014 SEC Complaint containing the following excerpt:
“…1. Beginning in August 2011, Weston Capital Asset Management LLC and its principal Albert Hallac perpetuated a fraud at a cost of more than $17 million to a hedge fund they manage. Under a purported swap transaction with a consulting and investment firm known as Swartz IP Services Group Inc., they drained the Weston-managed hedge fund Wimbledon Fund SPC (“Wimbledon”) Class TT Segregated Portfolio (“TT Portfolio ”)…

January 2013 Tribune 242 article entitled “Bahamas Financial Firms On Opposite Side Of Lawsuit”

2010 news release entitled “Fund.com Acquires Weston Capital Management”

An article from the Global Fund Analysis provides a brief overview of Mr. Hallac, his company, and its funds.

A media article shows that Weston Capital Management, LLC was a participating firm in the Investing in Emerging Markets: Debt and Equity Opportunities conference held this month in New York.

A media article lists Weston Capital Management as a sponsor for the Children’s Cancer Fund.

A September 2005 article says that Weston specializes in alternative asset management primarily for wealthy individuals and families, and institutions. The firm also sponsors many funds and designs customized portfolios consisting of single and multiple investment styles.

A June 2005 article shows an affiliation between Weston-Atlas Partners and RiskMetrics Group, a leading financial risk management firm. Weston will be partnering with RiskMetrics Group to enhance and complement its existing capabilities in the areas of portfolio risk analytics and risk reporting.

An April 2005 article announces that Weston-Atlas Partners has invested in a new fund from Agamas Capital Management, LP, a NY-based firm set up to develop multi-strategy relative value portfolios.

A November 2003 article mentions that Mr. Hallac, as chairman of Weston, has $1.1 billion under management.

A September 2003 article quotes Mr. Hallac as he talks about “the old days” of mutual funds and trading. The article also comments that in the 1970s, Mr. Hallac used to trade in fund shares, but that now, he manages small portfolios.

A March 2003 article lists Albert Hallac as chief executive officer of Weston Capital Management, and he comments on the company’s progress.

In a June 2000 article, Weston Chairman Albert Hallac comments on the company’s strategy of choosing biased directors if the company believes they will add value.

Tepper, David A. of Appaloosa Investment, LP I

David A. Tepper of Appaloosa Investment, LP

Forbes profile ranking Mr. Tepper as #124 among the world’s billionaires

Carnegie Mellon Tepper School of Business

Insider Monkey profile

Wikipedia profile

Wall Street Journal compilation of articles related to Mr. Tepper

Media Releases

June 2014 Hedge Ho post entitled “World Best Paid Hedge Fund Billionaire David Tepper Getting Divorced”

May 2014 The Motley Fool post entitled “The Man Who Made $3.5 Billion Last Year”

May 2014 Fox Business News video entitled “Billionaire investor Tepper sounds the alarm on Wall Street”

May 2014 The Business Insider article entitled “David Tepper Bought Stakes In Facebook, Priceline And Expedia”

May 2014 Reuters article entitled “Hedge fund mogul Tepper warns: Don’t be too long U.S. stocks”

April 2014 Hedge Fund Oracle post entitled “Forbes’ 20 Highest-earning Hedge Fund Managers and Traders” in which Mr. Tepper is ranked #2

February 2014 Bloomberg article entitled “Mandel Tops Best-Earning Hedge Funds for Clients in 2013″

February 2014 Institutional Investors Alpha article entitled “Study: Soros Tops Historical Hedge Fund Performers”

February 2014 CNBC video/article entitled “David Tepper hits Twitter? Not so fast”

October 2013 CNBC video/article entitled “The big money behind the Cardinals, Red Sox”

2011 NY Times Dealbreaker article entitled “65 Alternative Investment Managers on Forbes Richest Billionaires List”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

Icahn, Carl of Icahn Management, LP

Carl Icahn of Icahn Management, LP

Forbes profile

Bloomberg Businessweek Executive Profile

Investopedia profile filed under “The Greatest Investors” category

Wikipedia profile

Wall Street Journal compilation of articles for Carl Icahn

Bloomberg compilation of articles for Carl Icahn

Icahn, Carl

Media Releases

May 2014 FIN Alternatives article entitled “Icahn, Golfer Mickelson Faces Insider-Trading Probe”

May 2014 Forbes article entitled “Carl Icahn’s Fund Down In First Quarter As Winning Streak Ends”

May 2014 Miami Herald article entitled “Carl Icahn’s son Brett Icahn and a business partner said to be starting a hedge fund management firm in Miami”

April 2014 Reuters article entitled “SEC probing hedge funds’ bets on Herbalife”

April 2014 Hedge Fund Oracle post entitled “Forbes’ 20 Highest-earning Hedge Fund Managers and Traders” in which Mr. Icahn is ranked #5

April 2014 CNBC video/article entitled “Icahn on his legacy—planting activist funds”

February 2014 Institutional Investors Alpha article entitled “The Morning Brief: Carl Icahn backs down on Apple”

August 2013 Financial Times article entitled “Carl Icahn takes a bite of Apple”

January 25, 2013 Forbes article entitled “Investors Side With Carl Icahn: Herbalife Soars After Epic TV Battle With Ackman”

January 25, 2013 MarketWatch post entitled Can’t CNBC control cussin’ Carl Icahn?”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

January 25, 2003 CNBC video “Icahn, Ackman in Epic Showdown of Billionaires”

Insider Monkey profile and 2012 Stock Picks for Carl Icahn

March 2011 NY Times Dealbreaker article entitled “65 Alternative Investment Managers on Forbes Richest Billionaires List”

In June 2005 Rupal Doshi became chief operating officer and head of investor relationships at Icahn Partners.

In January 2005 it was reported that, “Icahn Partners, the hedge fund that Carl Icahn launched last summer, hasn’t received an overwhelming response from investors…The fund, which uses an activist strategy similar to Icahn’s own corporate raid tactics, was aiming to raise $3 billion. But so far it hasn’t raised the full amount, investors say. One report estimated that the fund had raised $1.5 billion, an impressive amount relative to normal initial hedge fund investment, but still well below the expected target.”

In December 2004 Carl Icahn filed a lawsuit against the $8 billion Perry Corp, saying Perry and other hedge firms tried to meddle in takeover battles, reports The New York Times. Icahn accused Perry and other hedge funds of engaging in an effort to manipulate the shares and outcome in several takeover battles including Hewlett Packard and Compaq Computer.

Several encyclopedia websites have an entry for Carl Icahn. Among the tidbits of information was that, “Icahn, raised in Queens, New York City, earned a reputation as a corporate raider after his hostile takeover of TWA in 1985” and “Icahn has also tried to take over Marvel Comics. He has casino interests in Las Vegas, Nevada, including the Stratosphere and Arizona Charlie’s, which are operated through his company American Entertainment Properties”. These articles also state: “In 2004, Icahn purchased a large bloc of stock in a pharmaceutical concern, Mylan Laboratories, after Mylan had announced a deal to acquire another company in that market, King Phamaceuticals, of Bristol, Tennessee. Icahn threatened a proxy fight over the acquisition, saying that the contract required Mylan to over-pay. He also contended that Mylan’s chief executive, Robert J. Coury was significantly overcompensated and that Mylan’s corporate governance was otherwise badly flawed. In early 2005, Mylan gave up its efforts to acquire King, but management said this was a result of its ongoing monitoring of relevant facts, not due to pressure from Mr. Icahn.”

In 2000, Foundation for a Greater Opportunity, a foundation funded by Carl C. Icahn, applied to open a charter elementary school in the South Bronx. The eventual result was the Carl C. Icahn Charter School.

The page http://www.secinfo.com/$/SEC/Name.asp?X=carl+c+icahn lists more companies which Mr. Icahn has an interest in.

In October 1999 The Icahn Family Foundation made a gift of $20 million to construct a state-of-the-art laboratory building on the Princeton University campus, The Carl C. Icahn Laboratory.

Another bio of Mr. Icahn states: “Throughout his career, Icahn specialized in and greatly benefited from orchestrating complex financial transactions including arbitrage. At the height of the “go-go eighties,” Icahn became a quintessential Wall Street corporate raider and an expert in the extraction of greenmail. Beginning with Tappan Company in 1979, Icahn went on to reap huge financial rewards through proxy fights with such notable firms as Texaco, Phillips Petroleum, TWA, and US Steel. In the nineties, Icahn earned huge sums of money by short selling overvalued Internet companies.”

In June 2005 Carl agreed to buy WestPoint Stevens, the maker of Martha Stewart sheets and towels that is in bankruptcy, for $703 million.

In 2005 Icahn and Blockbuster have clashed in a very public battle over control and direction of the company. In May Carl was elected to the board along with two fellow dissidents. A week prior to this Carl and Blockbuster CEO John Antioco got into an argument during a public company conference call.

In July 2002 Icahn offered to spend $331 million to acquire the bank debt of bankrupt telecommunications company XO Communications Inc., in what the Washington Post said appeared to be another attempt to take over the company.

A law firm web page at http://www.kasowitz.com/about-cases.html states that “In one of the most highly-publicized bankruptcy proceedings in history, we acted as lead counsel for investor Carl C. Icahn in his successful attempt to wrest control of Marvel Entertainment Group from Ronald Perelman. As a result of legal victories in the bankruptcy and appellate courts, Mr. Icahn ousted Mr. Perelman as chairman of the bankrupt comic book publisher.”

Mr. Icahn was ranked #49 in the 2005 Forbes List of the World’s Richest People.

In May 2005 Carl revealed in regulatory filings that he was accumulating stakes in Rite Aid, Hewlett-Packard, Siebel Systems and Telik. Rite Aid revealed in June that they had yet to be contacted by Icahn.

In April 2005 Kerr-McGee Corp announced that it has entered into a settlement with Mr. Carl Icahn, certain affiliated funds and JANA Partners LLC. As a result, the company will dismiss its complaint with prejudice filed March 10, 2005, in the United States District Court for the Western District of Oklahoma. See federal litigation search below for case listing.

Griffin, Kenneth Cordele of Citadel Investment Group, LLC

Kenneth Cordele Griffin of Citadel Investment Group, LLC

Griffin, Kenneth Cordele

Media Releases

May 2014 Bloomberg article entitled “Citadel Is First Global Hedge Fund to Raise Fund in China”

May 2014 The Huffington Post article entitled “The Hedge Fund that Ate Chicago”

April 2014 Hedge Fund Oracle post entitled “Forbes’ 20 Highest-earning Hedge Fund Managers and Traders” in which Mr. Griffin is ranked #8

April 2014 Bloomberg article entitled “Citadel Fund Said to Quadruple With High-Frequency Trades”

February 2014 MarketWatch article entitled “Citadel hedge fund’s recent moves”

February 2014 Reuters article entitled “Hedge fund manager Griffin gives $150 million to Harvard”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

In October 2009 it was reported that a ruling in the lawsuit Citadel Investment Group versus Teza Technologies was expected soon. Citadel sought an order barring former executives Mikhail Malyshev and Jace Kohlmeier from organizing the firm for the full nine-month period of the non-compete agreement. The lawyers said the two had promised not to compete against Citadel or to solicit its employees. They claim the former employees have been hiring employees, building databases, constructing super fast trading engines and developing trading signals in an effort to engage in high frequency trading. Malyshev and Kohlmeier said they did not break their non-compete contracts with Citadel as they were only setting up the new firm. Their lawyers argued that their actions have not injured Citadel. Furthermore, Teza has not begun working on the core of the business – developing the analytics – and no trading has taken place. Separately, Citadel is suing Malyshev and Kohlmeier for $300 million each for breaking the non-compete clause. The case arose following the early July arrest of computer programmer Sergey Aleynikov for stealing trading software from his former employer, Goldman Sachs. Aleynikov had worked for Teza but Teza has suspended him without pay since his arrest. The Aleynikov arrest precipitated Citadel’s action. Citadel quickly sued Malyshev and Kohlmeier and their firm Teza Technologies for violating their non-compete contracts.

In October 2009 Mr. Griffin was named to the Forbes 400. This profile reported that Citadel’s flagship fund dropped 54% in 2008, but had rebounded 55% since January 2009. While assets under management exceeded $20 billion in the fall of 2008, he now manages $13.5 billion.

In October 2009 it was reported that a former Citadel Investment Group senior manager Ervin Shindell was launching a new hedge fund, RoundKeep Capital Advisors, with three other ex-employees.

A September 2009 article stated that, “With its core funds up more than 50% this year and December’s ban on investor withdrawals about to be lifted, Citadel has begun moving aggressively into investment banking, a key step toward turning Chicago’s biggest hedge fund into the broad-based financial institution Mr. Griffin long has envisioned.” The company’s first investment banking deal is a $3.5-billion debt-restructuring job for hotelier Fontainebleau Resorts LLC.

In September 2009 it was reported that Citadel Investment Group’s flagship hedge funds expected to meet all $1 billion of 2008 redemption demands in 2009.

In August 2009 Citadel Investment Group filed a claim on behalf of the Citadel Equity Fund, saying it is owed as much as $470.5 million from derivatives contracts it held with Lehman Brothers Holdings. The claim was made to the US Bankruptcy Court for the Southern District of New York.

In August 2009 Citadel Investment Group LLC canceled its plans to cut its stake in E*Trade Financial Corp. The news that E*Trade’s largest stock and bond holder would not sell 120 million shares into the market over the next three months sent E*Trade stock surging as much as 18 percent. Kenneth Griffin was named to the company’s board in June 2009.

In August 2009 Citadel Investment Group sent a letter to investors said it will be returning $250 million to investors who had asked to redeem from its flagship fund last year but who were locked in when the firm suspended redemptions on December 13. The distribution is expected by October 1. A similar distribution is expected by year-end.

In June 2009 Kenneth Griffin testified to the Senate Banking Committee, proposing segregated margin payments, price transparency and capital requirements for banks, hedge funds and other market users. If clients’ margins are not segregated, customer funds could be lost in a dealer default, Griffin fears. This view is in line with regulators as they wish to protect investors in OTC derivatives trading. Griffin maintains that banks and other financial institutions ”earn extraordinary profits from the lack of transparency in the marketplace and from the privileged role they play as credit intermediaries in almost all transactions.”

In March 2009 American International Group has disclosed that Citadel Investment Group and Paloma Securities were two of the beneficiaries of the $106 billion of government bailout funds to banks, institutions and states. Citadel and Paloma received $200 million each.

A January 2009 New York Times article profiled Kenneth Griffin, http://www.nytimes.com/2009/01/18/business/18hedge.html. The piece stated that in 2008 there were rumors that Federal Reserve officials were trolling Citadel’s headquarters, that Citadel funds were selling off troubled assets, and that banks were pulling credit. While the last two rumors proved unfounded, it was confirmed that Federal Reserve officials did check up on Citadel, but “such inquiries have become routine at all large financial institutions.”

A December 2008 Forbes article entitled “Citadel Under Siege” detailed Citadel’s troubles in 2008, and how their October 2008 conference call helped put to rest rumors about the company.

In December 2008 Citadel announced it was shutting down its special situations group after its strategy racked up big losses for the firm. People close to the group said that at one point several years ago its strategy covered as much as 15 percent of Citadel’s total assets under management, but it had recently been pared down to about 3 percent of the firm’s overall portfolio as several investments turned sour.

In December 2008, Citadel Investment Group sent a letter to investors telling them the firm is halting redemptions on Kensington and Wellington funds. Ken Griffin, founder of the firm who signed the letter, said he hopes to resume redemptions as early as March 31, 2009. The two flagship funds started having problems in September, following Lehman filing for bankruptcy on September 15. In September, the fund lost about 15%. In October, it was down another 22% followed by a loss of 13% in November. In the first week of December, the fund lost another 3%. For the year, the fund is down about 49.5%.

In December 2008 the U.S. bankruptcy trustee for cash management company Sentinel Management Group Inc sued hedge fund Citadel Investment Group LLC and Goldman Sachs Group Inc, accusing them of helping Sentinel insiders make fraudulent transfers on the eve of its bankruptcy. Sentinel’s court-appointed trustee Frederick Grede, said Citadel and Goldman helped the insiders cover-up a long-running fraud. The lawsuit claims certain Sentinel insiders began a scheme in 2003 to improperly commingle customer funds with Sentinel assets, creating a massive $3 billion investment pool used to leverage trades of risky securities. The suit says the Sentinel insiders misused the customer funds, which were supposed to be separated and put them in unsuitable investments. Then, to try to cover up losses from the scheme, the insiders began transferring assets and shifting cash between accounts, the suit claimed.

Until 2008, Citadel has one had one down year since inception in 1990. In 1994, the fund was down 4%.

In December 2008 Citadel Investment Group announced that they were closing its Tokyo office and its Asia principal investment operations by year-end.

Citadel Investment Group lost about 13% in November 2008, bringing year-to-date losses to 47%, reports the Wall Street Journal.

In November 2008 Citadel Investment Group reported that they were closing its property catastrophe reinsurer, CIG Re Ltd. Cost of capital was cited as being too high.

On 6th Nov 2008, the Wall Street Journal reported that Citadel Investment Group had been asked by several banks to come up with more collateral to cover investment losses.

In November 2008, Ken Griffin testified before the House of Representatives Committee on Oversight and Government Reform, in a hearing on hedge funds and the financial market. A video of this testimony can be found at http://video.nytimes.com/video/2008/11/13/business/1194832813992/testimony-of-kenneth-c-griffin.html.

In October 2008 Citadel held a conference call with its noteholders stating that performance year to date was -35 percent for Kensington and Wellington and that the fund maintained a liquid cash position in excess of 30 percent of capital and had undrawn capacity of $8bn in its tri-party credit lines.

In October 2008 Citadel Alternative Asset Management reported that it was closing Fusion, its $1 billion fund of funds. Citadel Alternative Asset Management was started by parent Citadel Investment Group.

In October 2008 JPMorgan Chase Bank accused The IDW Group LLC in a lawsuit of helping Citadel Investment Group LLC entice executives to leave the financial institution.

In October 2008 it was reported that Citadel Investment Group was developing a series of new hedge funds, in a departure from its traditional focus on managing one, large, multi-strategy fund.

Kenneth Griffin, head of Citadel, said in a letter to investors that September 2008 was the “single worst month, by far, in the history of Citadel.”

In September 2008 Fluor Corp., the largest publicly traded U.S. engineering firm, was sued by investor Citadel Equity Fund Ltd., which claims it was shortchanged by $28.2 million worth of stock after converting a 2004 issue of senior notes.

In 2008, Forbes ranked Mr. Griffin the 97th richest American, with an estimated wealth of $3.7 billion.

In November 2007 Citadel invested $2.5 billion in E*Trade.

In September 2007 Citadel invested $400 million worth of debt investments in Sentinel Management Group.

In July 2007 Citadel bought the $4.7 billion bond portfolio of defunct hedge fund Sowood Capital Management at a 20% discount.

In January 2007 Rush Simonson, who had filed a lawsuit against Kenneth Griffin of Citadel in June 2006, abruptly dropped the lawsuit last week and apologized. Simonson wrote in a letter to Griffin, “As you know, I have received no compensation or consideration for withdrawing the complaint and moving to dismiss my lawsuit…I have reached the conclusion that doing so is the right thing to do.”

In October of 2006, Kenneth Griffin and his wife Anne Griffin donated $19 million to the Art Institute of Chicago. The money was used in the building of a new wing. As a result of the donation, one area of the art museum has been re-named Griffin Court.

In October of 2006, Kenneth C. Griffin purchased “False Start,” a Jasper Johns painting for $80 million.

In September of 2006, it was reported that Citadel Investment Group and JP Morgan Chase had agreed to take over energy-trading positions from Amaranth Advisor, the hedge fund whose wrong-way bets lost $4.6 billion.

In June of 2006, it was reported that Rush Simonson, claiming he was the original partner of Kenneth Griffin, alleged in a court action that Griffin breached their partnership agreement. He also claimed that there were breach of fiduciary duties and misappropriation of trade secrets. Citadel representatives stated that Mr. Simonson’s allegations were “baseless” and “malicious.” Mr. Simonson claimed that the two started a partnership in the late 1980s. Yet after some success, Griffin “devised and implemented a self-serving plan to fraudulently force the dissolutions of their business relationship, misappropriate the convertible arbitrage strategy developed and honed by Simonson and Griffin for use in his own financial ventures.”

In January of 2006, the Department of Justice disclosed a notice about Jack Abramoff’s guilty plea for conspiracy to commit wire fraud and mail fraud, in which Citadel’s fund was a victim. Sources reported that Citadel is litigating to recover sums lost. In September 2000, a division of Citadel Investment Group LLC loaned $32.5 million to Mr. Abramoff and a partner to help them buy a fleet of 11 gambling boats in Florida, according to court filings. But a few months later, Citadel discovered that Mr. Abramoff and his partner, Adam Kidan, had faked the $23-million down payment. Citadel lost more than $52 million on the SunCruz deal.

In January of 2006, there were reports that Citadel had imposed penalties on investors who wished to withdraw sizable amounts from the fund. Citadel would not comment on the report.

In December of 2005, Citadel Investment Group cut the jobs of 200 technology staffers, reducing the firm’s workforce to 900 employees. The company outsourced the computer programming work.

In September of 2005, Third Point hedge fund manager, Daniel Loeb sent an e-mail to Kenneth Griffin. The e-mail criticized recent hiring of a Greenlight employee by Griffin and warned Griffin against approaching Third Point employees.

In September of 2005, it was reported that Citadel and Ritchie Capital were both hurt by Hurricane Katrina damage. Losses came from investments in energy and reinsurance companies. They are the largest investor in CIG Reinsurance.

In May of 2005, Kenneth Griffin was considering taking his hedge fund company (Citadel) public.

In November of 2004, it was reported that Citadel was buying up large amounts of Google Inc. stock.

In 2003, Kenneth Griffin, of Citadel Investments, was the eighth highest earner among hedge fund managers. He earned an estimated $230 million.

In September of 2002, Citadel Investment Group announced the hiring of Aquil Inc.’s top trader in an effort to boost their energy trading operation. The trader is named Vince Kaminsky.

In March of 2002, Citadel LP’s SEC filing showed assets of $8.8 billion. In 2001 they reported assets under management at $9.1 billion.

In March of 2002, Citadel announced the hiring of several veterans of Enron Corporation. The group was building a new energy trading group.

Kenneth Griffin began trading as a freshman at Harvard in 1986. He traded stock options out of his dorm room. By his senior year he was managing $1 million in investors’ money using the same strategy.

Citadel employs 72 Ph.D.s, including former mathematics professors and astrophysicists. Ken Griffin can write computer code and pricing models for convertible bonds and mortgage-backed securities.

Kenneth Griffin was divorced and re-married. His current wife, Anne Dias manages hedge fund Aragon Global Management.

Mr. Griffin is a member of the Boards of Trustees of The Art Institute of Chicago, the Museum of Contemporary Art and the Chicago Symphony Orchestra Association. He also serves as a Director of The Chicago Public Education Fund and is a member of The Chicago Public Library Foundation Investment Committee and the Harvard Financial Aid Task Force.

A number of additional personal and professional details about Mr. Griffin and Citadel Investment Group can be found on their Wikipedia pages, http://en.wikipedia.org/wiki/Kenneth_C._Griffin and http://en.wikipedia.org/wiki/Citadel_Investment_Group.

Singer, Paul Elliott of Elliott Associates, LP

Paul Elliott Singer of Elliott Associates, LP

Forbes profile

Wikipedia profile

Company website

Wikipedia company profile

Media Releases

July 2014 Bloomberg article entitled “Elliott Calls on Argentina to Negotiate Accord on Bonds”

April 2014 Bloomberg article entitled “Billionaire Hedge Fund Leaders Join Ricketts’s Super-PAC”

April 2014 Reuters article entitled “French regulator considers fining Elliott arm $55 million: reports”

February 2014 Reuters article entitled

February 2014 Reuters article entitled “Juniper Networks bows to Elliott’s demands”

February 2014 Reuters article entitled “Elliott readies own director slate as Juniper finalizes turnaround plan -sources”

January 2014 Mining article entitled “Hedge fund veteran’s belief in gold unshaken”

January 2014 Bloomberg article entitled “Elliott Rejects Gramercy’s Argentina Proposal as a ‘Stunt’”

January 2014 Reuters article entitled “Hedge fund Elliott raises Celesio stake to 24.08 percent”

January 2014 Reuters article entitled “Riverbed’s rejection of offer puts focus on turnaround”

January 2014 Reuters article entitled “Hedge fund Elliott offers to buy Riverbed, higher bid expected”

January 2014 Reuters article entitled “Elliott Associates hedge fund returns 12.4 percent in 2013″

June 2013 Reuters article entitled “Hess, Newfield launch sale of $3 bln of Asian assets”

May 2013 Opalesque article entitled “The Growing Concern As Stocks Race to New Highs”

May 2013 Forbes article entitled “John Hess Saves Face In Last-Minute Truce With Elliott Management”

May 2013 Institutional Investors Alpha article entitled “The Morning Brief: Hess and Elliott Call a Truce; Tepper’s Still Bullish”

May 2013 Reuters article entitled “Hess offers hedge fund two board seats but is rejected”

May 2013 Forex Live article entitled “Elliott Associates Paul Singer: Monetary stimulus causing a distorted recovery”

2013 Insider Monkey Bio, Returns, Net Worth

January 201 The Street post entitled “Icahn, Elliott Associates and Other Investors Drill for Oil and Gas Deals”

January 2013 Business Insider article entitled “The Hedge Fund Manager That Impounded Argentina’s Ship Is Now Going To War With Hess — Here’s His Thesis On The Company”

January 2013 Business Insider article entitled “Hedge Funder Paul Singer Went Ballistic On Argentina In His Q4 Investor Letter”

October 2012 Financial Times article entitled “Singer banks on the full force of law”

May 2012 NY Times Dealbook article entitled “For Elliott Management’s Singer, Success Lies in Humility”

March 2012 CNN Money article entitled “Mitt Romney’s hedge fund kingmaker”

A February 2009 company profile writes, “Elliott means action: Hedge fund firm Elliott Management takes an activist approach to investing, frequently amassing significant but minority stakes in distressed or under performing companies and attempting to foment change. It manages hedge funds Elliott Associates and Elliott International, which together manage some $10 billion of capital for large institutional investors and wealthy individuals and families. Elliott Associates invests in corporate, real estate, and sovereign debt, with investments in North America, Asia, and Europe. Founded by Paul Singer[Listed as Founder & Principal] in 1977, Elliott Associates is one of the oldest hedge funds under continuous management.”

A February 2009 article reveals that Elliott Management told investors, through its quarterly letter, that it had purchased promissory notes from Marc Dreier, was indicted on January 30 on securities fraud, conspiracy and wire fraud for lying to hedge funds and investments funds. The SEC filed a civil lawsuit against Dreier, saying he raised at least $113 million by marketing fake promissory notes to hedge funds and other private funds.

A February 2009 article reveals that Epicor Software Corp. had recently fended off a hostile takeover bid by Elliott Associates LP that dragged on for two months. Earlier articles reveal that Elliott offered to buy Epicor for $7.50 a share, which valued the company at about $450 million. With this year’s slump in Epicor shares, that was enough for some: About a quarter of Epicor’s stockholders sold roughly 14.4 million shares to Elliott before the hedge fund bowed out. Another article writes, “Hedge fund Elliott Associates LP ended its hostile takeover bid for Epicor Software Corp. after the business software maker’s board backed its view that stockholders should reject the “highly conditional” offer, and shares of Epicor slumped to a five-year low.”

A January 2009 letter from Elliott to its investors addressing the Drier Fraud writes, “There are many reasons why funds lose money, but being defrauded is among the most embarrassing and annoying,” Elliott said in the letter. “We continue to adapt our processes to keep several steps ahead of fraudsters, and we maintain an attitude of probing skepticism. But sometimes we get hooked, as in the Dreier case.”

An October 2008 article reveals that The third-largest campaign donor for Sen. Mitch McConnell, R-Ky., is a $14 billion New York City hedge-fund firm led by a man — nicknamed “the Vulture” — who squeezes distressed companies and countries for their last dollars, and who boasted that the current U.S. economic crisis is “the opportunity of a lifetime.”
Paul E . Singer and his employees at Elliott Management gave $87,500 to McConnell’s campaign as of June 30, according to the non-partisan Center for Responsive Politics. They gave at least $66,000 more to McConnell’s political-action committee, called Bluegrass PAC.

In September 2008, a US court ruled that one of the largest and most experienced holdout funds, Elliott Management, could attach assets from the state-owned Banco de la Nacion as payment for the money it is owed, because the government used the bank so extensively as a policy tool that it was legally an ‘alter ego’ for the sovereign. If Elliott is successful in a similar case involving the Argentine central bank, this could have wider ramifications for the country’s financial policy.

February 2008 Bloomberg Markets article entitled “The Opportunist”

Paul E. Singer, a former corporate lawyer, is “the founding partner of Elliott Associates, a $7 billion hedge fund with a conservative, risk-averse bias that has been in business since 1977, making it one of the oldest funds around. A reserved, private man who would answer questions only via e-mail, Mr. Singer is a self-described conservative libertarian who has given millions of dollars to Republican organizations that emphasize a strong military and support Israel.”

An Internet profile f Mr. Singer reveals he is a board member with the Republican Jewish Coalition, the Jewish Institute for National Security Affairs, and a Trustee at the Manhattan Institute.

November 2007 – But this year Mr. Singer became one of the biggest supporters of Rudolph W. Giuliani’s presidential campaign, making his jet available to Mr. Giuliani, while Mr. Singer and workers at his companies have donated $200,000 to the campaign. And he became the largest individual backer of a California ballot initiative that many Democrats believe could sink their chances of winning the presidency.

A September 2007 article writes, “Remember the latest Republican election scam? The one where they were going to hold a referendum to eliminate winner-take-all in California only, so whichever districts were still voting for Kool-Aid would throw the election to a Republican in the electoral college?* Turns out the winger billionaire who was secretly funding the scam was a Giuliani supporter! LA Times:
A confidant of Republican presidential contender Rudolph W. Giuliani, and one of the candidate’s biggest donors, was the source of a mystery $175,000 donation to a stalled initiative proposal seen as an attempt to help the GOP win a portion of California’s 55 electoral votes.
New York hedge fund billionaire Paul E. Singer issued a statement Friday acknowledging that he gave the six-figure gift, ending speculation over its secrecy and fanning criticism of the Giuliani campaign.”

March 2007 – Among vulture funds, “the biggest is Elliott Associates, a hedge fund based in the U.S. and owned by Paul Singer, a billionaire businessman.”

Elliott Associates is a $9.8 billion New York-based hedge fund founded by Paul Singer. The fund has beaten the S&P 500 for 30 years.
According to Bloomberg, since its launch in 1977, the fund has returned 14.7% a year after fees.

A May 2005 article announces Elliott Advisors opened its Hong Kong office at the start of 2005 and won its licensing to advise on securities and asset management on March 8.

6/2/05 article:

>New York-based hedge fund Elliott Associates has stepped into a court
>battle in Australia, squaring off with the National Australia Bank.
>An Elliott Associates subsidiary, Portsmouth Partners, has bought a
>stake in Idoport, which is locked in a legal dispute with the NAB and
>its subsidiary National Markets Group Ltd.
>The injection of funds into Sydney-based Idoport has allowed the company
>to initiate fresh legal proceedings against NAB and its subsidiary

July 2003 – Elliott Associates is claiming victory in its legal tussle with Samsung Electronics over converting its preferred stock. It says it has won a decision in a South Korean court that will force Samsung to allow it to swap its 4 million preferred shares into common stock.

In May 2003 Liverpool Ltd Partnership, a fund manager associated with Elliott asked the SEC to block a proposed merger between Telecom Italia and Olivetti.

Highberry, a distressed debt hedge fund of Elliott’s, lost a battle to liquidate Telecom Group.

Elliott filed a complaint against Samsung Electronics in 2002 over a stock clause.

A November 2001 article reveals that Hedge fund Elliott Associates L.P. paid $11 million in 1996 on the secondary debt market to buy $20 million of Peru’s sovereign debt and then sued for full repayment plus capitalized interest. The US Federal Court of Appeal ruled in its favor and it received $58 million from the impoverished South American country on October 7, a $47 million profit.

April 2001 – New York-based hedge fund Elliott Associates is leading a stockholder revolt that is forcing Telecom Italia chairman Roberto Colaninno to improve his savings share conversion plan. Instead of a straight buyback at a good premium, Colaninno had proposed that savings shareholders convert their shares into ordinaries at a one-for-one rate after paying an additional Eu6.25 ($5.52) per share, or 48 percent of a share’s value. The conversion was designed to raise around Eu10 billion, which Colaninno would then utilize to buy back 10 percent of Telecom Italia ordinary shares at approximately Eu3.88 more than the then-current share price. However, Elliott Associates, which owns approximately Eu50 million worth of savings shares, has decided to fight against the conversion offer until Colaninno agrees to reduce the cash premium to 30 percent.

January 2001 – Elliott Associates L.P.: Metromedia Holders Continue To Gripe: With Its Stock 78% Off Its 52-week High, It’s No Wonder Holders Moan.(management strategy)
Elliott Associates and Westgate International , two holders in John Kluge’s Metromedia International Group Inc. have made new filings betraying further mistrust in, and frustration with, management.

A December 2000 article provides details on the lawsuit Elliott and Westgate filed against Covance Inc. The case involved allegations of securities fraud and violations of the Securities and Exchange Act. The article reveals that the complaint was dismissed in December of 2000, however litigation record indicate there may have been an additional action in April of 2001(See Litigation Summary Above).

March 2000 – About Elliott Associates, L.P.
Elliott Associates, L.P., a New York hedge fund, and its offshore sister fund, Westgate International Limited, represent one of the oldest and most stable hedge fund groups. Elliott was formed in 1977 with $1 million of capital, and Westgate was formed in late 1994 with $80 million of capital. The two funds now have more than $1 billion of capital

In 1998 Elliott led a shareholder revolt to replace Dayton Mining Corp’s board of directors with its own, handpicked members.

In 1996 Elliott Associates paid $11 million on the secondary debt market for $20 million worth of Peru’s sovereign debt. The company later sued Peru for repayment plus interest. The US Court of Appeals handed down a judgment of $58 million in favor of Elliott. A Latin American campaign denounced Elliott for picking the bones of the Peruvian economy.

Media research reveals that Westgate, Hambledon, Martley, Braxton, Manchester, & Stonington are all subsidiaries, affiliates, or prior names, of the greater Elliot Group. Other records indicate address, contact information, and the presence of John Elliott Singer is common to all these companies.

Loeb, Daniel Seth of Third Point Management Company, LLC

Daniel Seth Loeb of Third Point Management Company, LLC

Loeb, Daniel Seth

Executive Profiles

Forbes Profile

Wikipedia Profile

Bloomberg Businessweek Executive Profile

Traders Log Profile

Company Profiles

Hedge Tracker Profile of Third Point

Hedge Ho Profile of Third Point

Guru Focus Profile of Third Point 2013 Stock Picks

Insider Monkey Profile of Third Point 2012 Stock Picks

Media Releases

May 2014 New York Post article entitled “Loeb’s Sotheby deal no easy victory”

May 2014 New York Times Dealbook article entitled “Sotheby’s to Reimburse Loeb $10 Million”

April 2014 Business Insider article entitled “DAN LOEB: Be Prepared To Buckle Your Seatbelt”

April 2014 Business Insider article entitled “Judge Rejects Dan Loeb’s Bid To Overturn Sotheby’s Poison Pill”

April 2014 New York Post article entitled “Loeb seeks to delay Sotheby’s meeting in fight with board”

April 2014 Reuters article entitled “Loeb sees 2014 as an opportunity but warns of volatility”

April 2014 Reuters article entitled “SEC probing hedge funds’ bets on Herbalife”

April 2014 Hedge Fund Oracle post entitled “Forbes’ 20 Highest-earning Hedge Fund Managers and Traders” in which Mr. Loeb is ranked #12

April 2014 Reuters article entitled “Hedge fund manager Loeb says Sotheby’s attacks on him are ‘false’”

April 2014 Fox News video entitled “Sotheby’s fights back against Loeb in proxy battle”

April 2014 Reuters article entitled “Loeb urges Sotheby’s shareholders to back his slate”

March 2014 Reuters article entitled “Third Point sues Sotheby’s over poison pill”

March 2014 Reuters article entitled “Hedge fund manager Dan Loeb scores 4.4 percent gain in February”

February 2014 New York Post article entitled “Loeb: Spirituality is good for Wall Street”

February 2014 Institutional Investors Alpha article entitled “The Morning Brief: Third Point, Dow Chemical Fight Ramps Up”

February 2014 Reuters article entitled “Loeb’s hedge fund Third Point blasts Dow Chemical ‘lack of transparency’”

January 2014 Reuters article entitled “Loeb’s hedge fund Third Point to lose Rhode Island as client”

January 2014 Bloomberg article entitled “Third Point Takes Dow Stake, Calls to Spin Off Unit”

November 2013 Bloomberg article entitled “Third Point Invests in Turkey’s Biggest Real Estate Company”

August 2013 Haute Living article entitled “Haute 100 LA Update: George Clooney Slams Hedge Fund Billionaire Daniel Loeb Over Sony Criticism”

August 2013 Bloomberg article entitled “Loeb Poised for IPO as Einhorn Dump-Truck Bet Shows Insurer Risk”

July 2013 Forbes article entitled “Billionaire Dan Loeb Sells Most Of His Yahoo Stock, Makes $1 Billion”

May 2013 The Telegraph article entitled “Sony mulls break up after Dan Loeb pressure” (requires subscription)

May 2013 The Guardian article entitled “Hedge fund boss launches bold plan to break up Sony”

April 2013 Forbes article entitled “Hedge Fund Giant Daniel Loeb Beats the Market with Yahoo, and Cheniere Energy”

March 29, 2013 Reuters article entitled “Loeb’s Third Point outperforms hedge fund rivals again”

January 2013 Bloomberg article entitled “Morgan Stanley Shares May Double, Loeb’s Third Point Says”

January 2013 NY Times Dealbook story entitled “Just Business: 2 Hedge Fund Rivals Clash Over Herbalife”

January 2013 Bloomberg article entitled “Herbalife in Investor Meeting Says Ackman Pyramid Case Wrong”

October 2012 NY Times Dealbook post entitled “Third Point Wins (Set to the Beat of ’90s Hip-Hop)”

May 2012 NY Times Dealbook story entitled “Activist Investor Charts Plan to Revitalize Yahoo”

New York Magazine article entitled “Get Richest Quickest”

December 2011 Businesswire article entitled “Third Point LLC and Daniel S. Loeb Dismissed from Fairfax Lawsuit”

2011 Seeking Alpha article entitled “A Long List of Dan Loeb’s Stock Picks”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

An April 2009 article stated that at January 1, 2009, Third Point, LLC managed over $2.3 billion in assets. Since incepted in 1996, Daniel Loeb’s Third Point Offshore Fund, Ltd gained an annualized average of 16% until March 2009. The fund returned -17.2% net of fees and expenses in the fourth quarter of 2008 and returned -32.6% for the year ending December 31, 2008.

In March 2009 it was reported that Mr. Loeb was giving up on San Antonio producer TXCO Resources. He sold his 2.75 million shares for between 26 cents and 29 cents/share, according to a filing with the Securities and Exchange Commission. He had paid $34.5 million, or an average of 12.50/share. Loeb took an 8% stake in TXCO in November 2007 and asked for seats on the company’s board, complaining that management lacked the expertise it needed to convert its gas and oil reserves into production.

In February 2009 it was reported that the SEC was examining the situation involving insurer Fairfax Financial Holdings Ltd, and allegations that that several hedge funds conspired to drive down its stock price by using advance notice of an analyst’s negative report about the company. Fairfax Financial, a Canadian property and casualty insurer, brought the allegations in a lawsuit filed in July 2006 in state court in New Jersey. Documents submitted in the ongoing case indicate that executives of the hedge funds discussed the upcoming report of the analyst, John Gwynn of Morgan Keegan Inc. The hedge funds (SAC Capital Advisors, Third Point LLC and Kynikos Associates) used knowledge of Gwynn’s report before its public release to bet against Fairfax Financial’s stock by short-selling it, the insurer alleges.

In October 2008 it was reported that Daniel Loeb’s Third Point Offshore fell 6.6% in September and was down 13.8% year to date.

A September 2007 article announces that a group of prominent American hedge funds have failed to get a $6-billion lawsuit against them by Prem Watsa’s Fairfax Financial thrown out of NJ court. Fairfax alleges the hedge funds were engaged in racketeering and hired a man named Spyro Contogouris to ‘beat up’ its stock as a way of profiting from short selling its shares. The money firms, among them SAC Capital, Exis Capital, Third Point, Sigma Capital and Rocker Partners, deny using any dirty tricks and allege Mr. Watsa’s company sued them in order to silence its critics and deter investors from shorting its stock.

In July 2008 Third Point Management informed investors that the Securities and Exchange Commission had commenced a formal investigation into its communications with other hedge funds. Loeb told investors that the communications were uncovered during the course of a routine audit last year after Third Point became a registered investment adviser. “During the course of the audit, the examination staff noted that we regularly communicate with portfolio managers at other hedge funds about investment and trading ideas,” wrote Loeb. “The SEC later informed us that it had commenced a formal investigation of Third Point primarily relating to these types of communications.” Loeb reportedly told colleagues and investors that he sees the SEC investigation as “a badge of honor.”

In July 2008 Third Point, LLC disclosed that it has bought 6.8 percent of Phoenix’s stock and wants the board to hold CEO Dona D. Young “accountable for the company’s underperformance and seek new leadership.”

In July 2008 Third Point LLC said a third party made a $20 per share offer for real estate investment trust Maguire Properties Inc. but later withdrew the offer.

In May 2008 Third Point LLC accumulated a stake of more than 5 million shares in Yahoo Inc. and is supporting investor Carl Icahn’s proxy battle.

In March 2008 TXCO Resources Inc. and Third Point LLC announced that they have reached a settlement agreement in a lawsuit pending in the Delaware Court of Chancery and a related proxy contest in which Third Point sought to seat three directors on TXCO’ s Board of Directors. As part of the settlement, TXCO has agreed to appoint two of Third Point’ s director nominees – Jacob Roorda and Anthony Tripodo – to the Company’ s Board, effective immediately.

In February 2008 it was reported that Daniel Loeb had purchased a 10,000-square-foot apartment in newly renovated 15 Central Park West for $45.8 million.

In 2007 Third Point criticized the management of PDL BioPharma Inc. Chairman L. Patrick Gage and then-Chief Executive Officer Mark McDade for its $489 million purchase of ESP Pharma Inc.

A September 2007 article reveals that Third Point was down 8.3 percent last month, leaving it up 6.8 per cent for the year.

A July 2007 article reveals that Third Point has postponed its initial public offering in London because of investor fears about hedge fund excess and stock market volatility precipitated by the Bear Stearns’ and sub prime debacle.

A June 2007 article announces that Daniel Loeb’s Third Point Capital is planning an initial public offering of its fund, Third Point Offshore Investors Ltd, on the London Stock Exchange. The goal is to raise €500 million euros ($665 million). It will offer stock in euros, dollars and sterling.

A June 2007 article announces that Daniel Loeb resigned from the board at Massey Energy.

A March 2007 article describes the allegations that several hedge fund managers, including SAC founder Steven Cohen, had successfully brought down Fairfax’s share price to make hundreds of millions of dollars buying cheap stock. All the defendants, including Cohen, denied wrongdoing.

A January 2007 article reveals that by May of 2006 Third Point LLC, Daniel Loeb’s vehicle, had acquired 1.5 million shares of Zoltek Companies Inc. Zoltek has recently been the subject of a lawsuit brought by Structural Polymer Group Ltd., which alleged a breach of contract and was recently awarded a $36 million dollar verdict in November of 2006. Zoltek has filed an appeal.

January 2007 company profiles of Massey Energy Company and Ligland Pharmaceuticals Inc. list Daniel S. Loeb as director.

Media from January of 2007 was found commenting on Daniel Loeb’s lifestyle. An article documenting his recent purchase of a $45 million luxury apartment was found as well as an article including him among several managers who have seen their art collections expand recently.

A December 2006 article writes, “ Daniel Loeb is as famous for his razor-sharp skills as a hedge-fund manager overseeing $3.5 billion in assets as he is for his vicious attacks on fellow financial whizzes – but his blowhard behavior may be fading as quickly as day traders in the dotcom era.” The article speculates that Mr. Loeb is trying to “remake himself as a kinder, gentler money man.”

In December of 2006 Mr. Loeb, through Third Point LLC, bought 350,000 shares of Ligland Pharmaceuticals Inc. bringing Third Points holdings in the company to 9.8% of the outstanding shares or 7.73 million shares. Several media articles name Third Point as Ligland’s largest shareholder.

In December of 2006 Third Point CEO Daniel Loeb criticized Pogo Producing Co. acquisition of Northrock Resources last year for $1.8 billion in cash as “inopportune.” Third Point owns 4 million Pogo shares and options to buy 200,000 more, or 7.2% of its shares outstanding.

In November 2006, Nabi Biopharmaceuticals said Monday it has reached a settlement with New York hedge fund Third Point LLC. The deal calls for Nabi to add two board members, Jason Aryeh and Tim Lynch. Both were nominated by Third Point. Third Point wanted to remove Chief Executive Tom McLain from Nabi Biopharmaceuticals.

In October 2006, Napi Pharmaceuticals agreed to sell one of its two biggest products for $65 million cash and as much as $85 million more in payments and royalties. Daniel Loeb has called for McLain’s removal from the board and possibly others too.

Massey Energy Co., who is under pressure from shareholders who want the coal producer to put itself up for sale or undertake a large stock buyback, hired investment bank Goldman Sachs to review ways to increase shareholder value in October 2006.

In September 2006, Third Point filed with the SEC demanding the right to inspect certain books and records of Nabi Pharmaceuticals.

In August 2006, AEP Industries Inc. (AEPI) and Third Point LLC have entered into an agreement whereby the Company will repurchase 850,000 of its common shares from investment funds affiliated with Third Point in a privately negotiated transaction at $36 per share for a total purchase price of $30.6 million.

In July 2006, Canadian insurer Fairfax Financial Holdings filed a lawsuit in New Jersey court seeking $5 billion from a group of hedge funds, alleging that they pushed its stock down by spreading false rumors and misleading research about its finances in a “massive and fraudulent disinformation campaign.” The defendants include SAC Capital Management, Steven Cohen, Exis Capital, Andrew Heller, Third Point Partners, Daniel Loeb, Rocker Partners, David Rocker, Lone Pine Capital, Trinity Capital and other hedge funds as well as John Gwynn, a Morgan Keegan analyst.

In April 2006, The New York-based investment company, Third Point, and its affiliates want representation on Massey’s board because they believe the Richmond, Va.-based coal company “has not performed well and has lost sight of the concerns and interests of stockholders generally,” Third Point said in its filing.

Massey Energy Inc. took the unusual step of speaking directly to shareholders to rebuff an effort to replace two of its directors. Don Blankenship said, “Our board has nominated three independent and highly qualified individuals,” he said. Blankenship said that voting for the three would enable Massey to stick to a path that will bring long-term growth, profitability and financial strength.

Hedge-fund manager Daniel Loeb in September (2005) sent an angry open letter to Citadel CEO and founder Ken Griffin. Loeb told Griffin not to try to lure away the employees of his Third Point hedge fund or his “friends in the event-driven space,” and added that he would consider such headhunting an “act of war.”

In 2005 Jim Kelly joined Third Point as president and COO. As of September 2005, Third Point had $4 billion in assets.

Daniel Loeb and Margaret Munzer, who were married July 2004, put up their Bank Street property on the market for $18.95 million in April 2005.

Ligand Pharmaceuticals Inc. and Third Point reached an agreement and Ligand expanded its board to include Daniel Loeb, Jeffrey Perry and Brigette Roberts, M.D.

In July 2004 Third Point Management hired Jeffrey Trongone as chief operating officer. Trongone had been chief financial officer/managing director of JP Morgan’s asset management business as well as chief financial officer, chief operating officer and managing director at Chancellor Capital Management. The article that mentioned this put Third Point’s assets at $1.3 billion.

Daniel Loeb has been known to be very vocal about the companies is involved in, and has penned a number of letters to these institutions suggesting certain courses of action. Among these companies are BindView Development Corp, Horizon Natural Resources, Intercept, Potlatch, Penn Virginia and Salton, Inc.

An in-depth article on Loeb appears at http://newyorkmetro.com/nymetro/news/bizfinance/finance/features/10426/index1.html. He speaks on a number of things from his lifestyle and his office decorations to his business practices. It says, among other things, that, “Loeb is well known in Hedgeworld for his attacks on what he views as greedy execs who also happen to be depressing shareholder value”, “Hedge-fund guys love to read Loeb’s attacks”, and “Loeb once increased his holdings, at a cost of more than $4 million, just so he could file a letter.”

More detail into the Chronimed, Inc. securities litigation was found. Securities fraud class action, filed on behalf of all purchasers of Chronimed, Inc. securities between October 27, 1999 and June 13, 2001, alleges that Chronimed falsified its reported financial results during the class period by intentionally or recklessly double-booking certain transactions, resulting in an overstatement of its revenue, earnings, and accounts receivable. On March 11, 2004, a settlement of $2.2 million was reached.

Details into Youlia Miteva’s case against Third Point and Loeb were also found. Youlia says she was denied $1 million in wages when she was fired in December 2002. She claims that she and other employees had been mistreated by the fund’s managing member, Daniel S. Loeb, since the fall of 2001, when Loeb’s behavior became “particularly abusive and erratic.” Miteva, a Bulgarian citizen, says Loeb fired her in a “brazenly unlawful manner” because he thought she wouldn’t assert her contractual rights “for fear of upsetting the immigration process.”

In April 2000 Hitsgalore.com dismissed their libel case. The company had claimed that five anonymous authors allegedly wrote disparaging postings about the company on the Raging Bull message board. Daniel Loeb (as “Mr. Pink”) was one of the five reportedly identified.

Daniel Loeb is allegedly an Internet message board poster that goes by the moniker “Mr. Pink.” A 1998 Wall Street Journal article stated that, in a heated message battle between Mr. Pink and Florida stockbroker Alan Davidson, Mr. Pink posted Davidson’s full name and address. Alan had been a proponent of Chromatics Color Sciences International Inc, which was losing money. Pink’s post resulted in Davidson receiving a number of obscene phone calls and death threats. The article’s author spoke to Mr. Pink in a phone interview. He asked not to be outted, and “expressed no regrets about disclosing Mr. Davidson’s identity.”

Third Point Management was founded by Daniel S. Loeb in 1995. They oversee a family of investment funds focused on public and private growth and special situation investments. Following the sale of Radia Communications to Texas Instruments in August 2003, Third Point Management has gone on to fund additional investments in the wireless and wireline semiconductor and infrastructure markets.

Loeb and Third Point, who own interests in Penn Virginia, called for a sale of the company’s oil and gas assets. At one point he has also called for CEO A. James Dearlove to resign because he has allegedly “surrounded himself with an ineffective board of directors and performed badly on corporate governance issues.”

In a letter to Potlatch Corp, Loeb referred to chief executive officer L. Pendleton Siegel as “Chief Value Destroyer”

Loeb’s letter to Horizon Natural Resources and Wilbur L. Ross objected to Ross and the other members of the ad hoc committee choosing to receive a $3.75 million fee in significantly undervalued equity, rather than in cash, which is called for in the plan of reorganization. Third Point was one of Horizon’s largest creditors.

Third Point Management owns holdings in Salton. Loeb opposed any restructuring involving dilution to Salton’s shareholders through issuance of equity, a convertible debt offering or an exchange of equity for debt to current bondholders.

Third Point owns holdings in InterCept, Inc. Loeb’s June 2004 letter to Intercept CEO John Collins stated, “We have grave doubts about your managerial skill, fitness to run a public company and business judgment.” Apparently Collins depicted Third Point as a “sleazy hedge fund” in the June 12, 2004 Atlanta Journal-Constitution, which Loeb called “baseless and possibly libelous.” Mr. Loeb went on to viciously criticize Intercept:

“For someone who acquired iBill, a purported “merchant processing business” whose real activity is primarily to provide billing services to hard core pornographic websites, your credibility as moral arbiter is not strong. Perhaps from your vantage point in the porno industry, you find it unsavory that I support a children’s cancer hospital (Tomorrow’s Children’s Fund), education for disadvantaged youth (Prep for Prep), women’s rights in third world countries (Equality Now) and numerous other charities. Maybe it is the fact that, since inception, my business has generated over $600 million in profits and provided numerous jobs, which you find offensive.

In any event, calling your second largest shareholder “sleazy” in the media is further evidence of your poor judgment and exemplifies the type of behavior that should provide you with ample opportunity to join your son-in-law on the golf course in the not too distant future.”

The last line in this letter may refer to a portion of the New York Metro article that stated, “He [Loeb] learned that one company leased a private jet from a firm controlled by the CEO, and that the CEO’s son-in-law was on the payroll and, as Loeb’s Investigation further determined, on the golf course during the workday.”

An article describing InterCept’s acquisition of iBill was found. They bought the Internet Billing Company for $104 million in March 2002. They act as the gateway between pornographic websites and banks that process credit card payments. Collins claimed that the amount of iBill’s business that derived from adult entertainment was 5% to 10%. Further research showed that in fact it was closer to 85%. Third Point and JANA Partners are two of the hedge funds that attacked InterCept for the move. The company sold iBill in March 2004, but still faced a $4.2 million charge for allegedly covering up its involvement in pornography.

Falcone, Philip Alan of Harbert Management Corporation

Philip Alan Falcone of Harbert Management Corporation

Philip Alan Falcone

Media Releases

July 2014 FIN Alternatives article entitled “Harbinger To Get 12.5% Of LightSquared Under New Bankruptcy Plan”

June 2014 Hedgeweek article entitled “Harbinger Group offers to acquire Central Garden & Pet Company”

March 2014 Bloomberg article entitled “Harbinger’s Falcone Wasted Assets, Investor Says in Suit”

October 2013 CNBC video/article entitled “The big money behind the Cardinals, Red Sox”

September 2013 Reuters article entitled “Judge OKs SEC’s Falcone settlement with admission of wrongdoing”

August 2013 Bloomberg article entitled “Falcone Agrees to SEC Securities Ban, Admits Wrongdoing”

August 2013 Bloomberg article entitled “Harbinger Sues Deere, Garmin Over GPS Products Spectrum”

May 10, 2013 Bloomberg article entitled “Falcone Agrees to Two-Year Hedge-Fund Ban to Settle SEC Lawsuit”

December 2012 Insider Monkey post entitled “Harbinger plans $650 Million Refinancing”

October 2012 NY Times Dealbreaker articles entitled “Sleep where Phil Falcone hath Slept” & “Phil Falcone will borrow Millions of Dollars from any Gated Investor Fund He Pleases”

August 2012 NY Times Dealbreaker article entitled “Phil Falcone is Turning his Life Around”

August 2012 Business Insider article entitled “Phil Falcone’s Harbinger Capital Had A Killer Summer Thanks To His Bet On His Own Publicly Traded Company

July 2012 Forbes article entitled “Amid SEC Charges, Hedge Fund Manager Phil Falcone Attempts Audacious IPO”

June 2012 Bloomberg article entitled “Falcone Said to Face Lawsuit From Regulators Over Loan”

Wall Street Journal news, articles & biography regarding Phil Falcone

March 2011 NY Times Dealbreaker article entitled “65 Alternative Investment Managers on Forbes Richest Billionaires List”

2011 Business Insider article entitled “The Hottest Hedge Fund Wives On Wall Street”

Wikipedia Profile

Forbes Profile

A March 2009 article reveals that Harbinger Capital Partners, run by Philip Falcone, reportedly proposed lower management and incentive fees if investors agree to have their money tied up for two years rather than one.

March 2009 – Harbinger Capital was first to declare a short position in HSBC following the bank’s record rights issue, after making more than £300m from a similar tactic with HBOS last year. Harbinger had on Monday taken a short position in HSBC shares, worth about £110m. Any gains so far from this trade are likely to be modest, but its head, Philip Falcone, has won big at the races before on such flutters. Harbinger has also taken short positions in Spanish banks, including one for 0.4 per cent of Santander, the owner of Abbey National. Mr. Falcone was one of five hedge fund managers quizzed by US lawmakers last November.

A March 2009 article reveals that “hose who have met Falcone recently say he is undaunted by the current state of resources markets and remains a true believer in the logic of the super-demand cycle.”

A March 2009 article reveals Falcone and Harbinger’s positions in several companies including, Fortescue Metals Group Ltd., Island Sky Australia Ltd., Poseidon Nickel Ltd., and Po Valley Energy Ltd.

A March 2009 article reveals “Philip Falcone of Harbinger Capital Partners, put his money behind a Republican in the form of Rudy Giuliani, who later refunded the donation.”

The managing member of Harbinger Capital Partners LLC is Harbinger Holdings, LLC, which is in turn controlled by Philip A. Falcone.

March 2009 – China’s Sinosteel lifted its holding above 5 per cent to become the third-biggest shareholder. Sinosteel is now third on the register, behind Philip Falcone’s Harbinger Capital on 19.8 per cent and Korean steel giant Posco on 12.3 per cent

February 2009 – Tate & Lyle lost another 200BE, p to 27100BD, p amid increasing signs that investor Philip Falcone of Harbinger, the hedge fund, is looking to sell. There has also been speculation that hedge fund Harbinger Capital, which is run by Philip Falcone, may be forced to sell its large stake in the company following redemptions. The rumors have weighed on the share price in recent months.

A February 2009 article reveals that Philip Falcone has been an outspoken activist investor and has in the past called for management shakeups at The New York Times Co. and Media General, two of its other substantial holdings.

January 2009 – The past few months have been hard on Harbinger Capital Partners and its founder, Philip Falcone. After a good start to the year (it was up more than 40 percent through June), the New York–based hedge fund firm gave up those gains. Falcone’s main fund dropped 17.9 percent in September alone, leaving it down 5.4 percent on the year. Over the summer Falcone lost money going short financials and long energy, a common trade that cost many hedge funds dearly when it reversed in July.

A January 2009 article refers to Philip Falcone as a “and a long-time backer of [mining magnate Andrew Forrest]” The article also reveals Harbinger ahs a 17 per cent stake in Po Valley, which was previously run by Mr. Forrest.

January 2009 – At last, some respite for those poor beleaguered hedge funds from the Financial Services Authority, which says it will drop its ban on short selling financial stocks later this month. The concession can’t come soon enough for some in the sector. Take Philip Falcone of the US hedge fund group Harbinger, below. Publicly excoriated for making pots by selling HBOS short last year, Mr. Falcone’s fortunes have since taken a turn for the worse. So much so, he has now had to put limits on investors’ withdrawals from his biggest fund.

“We are believers in Calpine’s business model and like their long-term prospects,” said Harbinger Capital Partners Senior Managing Director Philip A. Falcone. “We are a committed shareholder and may look to add to our position over time.” Mr. Falcone commenting on the January filing by Calpine Corporation of an amendment to its Form S-3 Registration Statement with the Securities and Exchange Commission as it successfully emerges from bankruptcy.

December 2008 – Harbinger Capital Partners run by Philip Falcone, is restricting redemptions in its $10 billion Harbinger Capital Partners Master Fund to 60 percent to 70 percent of the $3.5 billion requested by investors. The fund is down 23 percent for the year through November, although at the end of June it was up 43 percent for the year, according to Bloomberg. Harbinger will also separate the fund’s private equity holdings, which make up about 15 percent of assets, into a segregated account to avoid selling them at distressed prices.

A an article dated 11.13.2008 writes, “George Soros of Soros Fund Management, John Paulson of Paulson & Co, Ken Griffin of Citadel Capital, James Simon of Renaissance Technologies and Phil Falcone of Harbinger Capital are testifying today at the House Committee on Oversight and Government Reform hearings. They are discussing the role of hedge funds in the financial crisis and whether hedge funds should be regulated.” See attached document for Mr. Falcone’s complete testimony which is also included in the media section below.

Harbinger Capital, the activist New York hedge fund run by Phil Falcone, fell 17.9% in September and is down 5.4% in the first nine months of 2008. This contrasts with a 116% gain in 2007 following a correct strategy against subprime mortgages. According to a letter to investors last month, leverage has been cut. Harbinger managed around $21 billion at the beginning of August.

A September 2008 article reveals that the Forbes list of the 400 Richest Americans includes Philip Falcone at #163, while Trader Monthly listed him at #2 in a list of the highest earning fund managers.

Harbert Management was founded in 1949 by John Harbert. The company began as a construction firm that eventually transitioned into a money management firm. Raymond Harbert, John Harbert’s son, now runs the company. The company was founded after John Harbert won $6,000 in crap game sailing home from WWII. He used the money to buy a concrete mixer and started a construction company. Harbert Management went on to carve out a niche in high-risk enterprises such as buying Tennessee and Kentucky coal in the 1960s and oil stock during the energy crisis.

Possible detrimental information found, however it might be due to the nature of the investment strategy adopted by Mr. Falcone.

An August 18, 2008 article states that Harbinger bought a large stake in Media General and The New York Times Co. earlier in 2008 and negotiated seats on their board of directors by threatening proxy fights. This article addresses recent rumors that Harbinger would try a similar move with Cablevision Systems Corp., in which they hold a minority stake.

An August 17, 2008 article states that Philip Falcone – who reportedly made $1.7 billion in 2007 – paid $49 million in February to purchase Penthouse publisher Bob Giccione’s townhouse at 14 East 67th Street. The residence is five stories with 27 rooms. The article states that Mr. Falcone and his wife’s potbellied pig Pickles has its own room.

A July 25, 2008 article states that Harbinger Capital Partners Funds agreed to provide $500 million of debt financing to SkyTerra Communications, Inc. and Mobile Satellite Ventures, LP.

A July 23, 2008 article states that Harbinger Capital Partners bought the 30th and 31st floors of 450 Park Avenue and will rent the office space for what sources state is close to the building’s asking price of $180 per square foot.

A July 2008 article discusses Mr. Falcone’s childhood. He was the youngest of nine, described as a “quiet, inquisitive kid with a sheepish grin”. He was a standout hockey player, nicknamed “the phantom” for “his uncanny ability to cruise – untouched – legs barely pumping, past defenders”. His father walked out on the family, leaving Mr. Falcone’s mother to raise nine children on an 80-cent-an-hour job at a shirt factory. Mr. Falcone’s hockey skills brought him to Harvard University, where he played center on the varsity hockey team. He later played professional hockey in Sweden for a year until his sports career ended due to a thigh injury. In 1990 Mr. Falcone teamed with a friend from Harvard to acquire AAB Manufacturing, which turned out to be a huge failure, resulting in Mr. Falcone’s bank accounts being frozen and the lights in his apartment shut off. This article also states that his 27-room mansion features an indoor pool, solarium and theater. He also owns a minority stake in the NHL team Minnesota Wild. Despite all of his success, Mr. Falcone insists that money does not define who he is.

A June 2008 article reveals that Philip Falcone’s Harbinger Capital Partners has taken a sizable 3.29% short position, worth an estimated $670 million in HBOS, the UK’s biggest mortgage lender.

A May 2008 BusinessWeek article dubbed Philip Falcone the “Midas of Misery” for his success in “snapping up troubled assets in bankruptcy, shorting distressed bonds, and using huge stock positions to agitate for change at under performing companies”.

An April 2008 article states that Philip Falcone tied James Simons (of Renaissance Technologies Corp.) as the second-highest paid trader on Wall Street. Henry Paulson ranked first.

A March 2008 article states that the “Manhattan mansion where soft porn publisher Bob Guccione used to cavort with his Penthouse Pets has been sold to hedge fund supremo Philip Falcone”. The article states that the property features a “massive, shimmering Roman-style pool”, along with a wine cellar, garden with greenhouse, ballroom, 11 bathrooms and four bedroom suites, including a massive master bedroom covering an entire floor.

In a January 2008 article, Mr. Falcone denies that Harbinger Capital Partners’ plan to nominate its own members to Media General Inc.’s board of directors “was neither hostile nor ill-advised as characterized”. Mr. Falcone made these remarks in a letter sent to Marshall N. Morton, Media General’s president and chief executive. The letter was also filed with the SEC.

In November of 2007, it was noted that Harbinger Capital Partners would buy Calpine Corp’s bankruptcy claim against Solutia Cor, for $135.5 million. Harbinger was the top bidder at an auction overseen by a US bankruptcy judge in New York.

A September 25, 2007 article states that Harbinger Capital Partners sold a tenth of its GeoEye holdings.

A May 11, 2007 article states that Harbinger Capital Partners was taking a more active approach to DHB Industries.

An April 2007 article states that the Harbert Merger Arbitrage and Event Driven Fund began investing on an in-house fund in December with $25 million from Harbert Management. The fund is run by Neil Kennedy and John Frank.

A March 16, 2007 article states that Harbinger Capital – along with Paulson & Co. and Kensico Capital Management – was one of a few hedge fund managers that made money from the “surge in subprime mortgage defaults”.

In 2006, market watchers reported that Philip Falcone and Raymond Harbert were buying big in Fortescue using Patersons Securities, after a week in which the stock price sagged.

In 2006, Harbinger Capital Partners were attempting to merge two struggling companies that they were heavily invested in. The companies were Salton Inc., and Appilca Inc. Appilca Inc. agreed to be acquired by Harbinger for $6 a share. Harbinger held a stake in Salton.

In 2006, Northwestern Corporation told its largest stockholder, Harbert Distressed Investment Master Fund, “that efforts to communicate with other shareholders to vote in a new board would not trigger a poison pill.” Harbert was taking action because it was “profoundly dissatisfied” with Northwestern’s tactics to rebuff negotiations with Black Hills Corporation on its proposal to merge. Harbert also accused the Northwestern board of “manipulating the corporate machinery to protect its own interests.”

From a Nov. 2005 article: Falcone manages the Harbert Distressed Investment Fund, a $3 billion hedge fund in New York. He started the fund in June 2001. Falcone’s a master rebound investor. He specializes in finding companies that are massively undervalued due to bad press or scandals: issues that don’t really affect the company’s core business. And 2001 was a great market for this type of investing. Since the fund’s inception in June 2001, Falcone has shown investors returns of 101%.

An August 2005 article reiterates the conflict (between Harbert and affiliate Calpine) mentioned in the earlier articles, as Mr. Falcone sums up his view of the situation, commenting, “it is not over yet.”

Two May 2005 articles comment on the disagreement between Harbert and affiliate Calpine, and the accusation of improper use of funds.

An April 2004 article announced that Harbert Management put forward a loan that brought company General Chemical Products, Inc. out of bankruptcy in March of that year.

A July 2002 article mentions that Harbert Capital is a private equity firm managed by Philip Falcone. It says that its assets were up by 14.2% from just the year before. It also mentioned it was planning on launching a convertible arbitrage fund to be managed by Jeff Parket and Mitch Thaw that following fall.

Another July 2002 article comments that Harbert’s primary focus is on turnarounds, restructurings, liquidations, and even driven situations from trading long and short public debt securities.

A link in the media section leads directly to Harbert’s company website, wherein there is a bio and photo of Mr. Falcone.

A media article estimates Philip Falcone’s annual income at between $40-50 million.

A media article boasts of Harbert’s success, saying that their “clients are the beneficiaries of over 50 years of property ownership, development and management experience.” It also says that they have combined assets in excess of $1.4 billion.

http://www.harbert.net/company/about-hmc/ is the company website for Harbert.

http://www.harbert.net/distressed-event-special-situations/investment-team/ is the company website for Harbinger.

Philip Falcone donated $2300 to Friends of Rahm Emanuel in May 2008 and $28,500 to the Democratic Senatorial Campaign Committee in June 2008. In 2007, he donated $4600 to Christopher Dodd, $2300 to Friends of Dick Durbin Committee, $2300 to Citizens for Arlen Specter, $2300 to Rudy Giuliani’s presidential campaign, and $2300 to Team Sununu (Senator John Sununu).

Cammack, James Steven of Palm Beach Capital Management, LLC

James Steven Cammack of Palm Beach Capital Management, LLC

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Steve Cammack participated in a Pro-Am Golf tournament in May 2006.

4 Edgar SEC filings were found for J STEVEN CAMMACK as a lender with Finovac.

In 2000, FINOVA CAPITAL CORP. named J. Steven Cammack senior vice president-commercial finance.

In 1998, FINOVA CAPITAL CORP. has named J. Steven Cammack senior vice president of the Rediscount Finance division.