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by: Todd Sullivan posted on: June 22, 2008 | about stocks: CSX Not sure if anyone has seen this but it is a must read. Click to read the whole document: Some people deliberately go close to the line dividing legal from illegal if they see a sufficient opportunity for profit in doing so. A few cross that line and, if caught, seek to justify their actions on the basis of formalistic arguments even when it is apparent that they have defeated the purpose of the law. This is such a case. The defendants – two hedge funds that seek extraordinary gain, sometimes through “shareholder activism” – amassed a large economic position in CSX Corporation , one of the nation’s largest railroads. They did so for the purpose of causing CSX to behave in a manner that they hoped would lead to a rise in the value of their holdings. And there is... [read full story]
