Hedge Fund AR Lawsuit
Hedge Fund Drops Suit Against Absolute Return + Alpha
Hedge-fund manager Elliott Management Corp. on Tuesday dropped its court case against trade publication Absolute Return + Alpha, bringing to a close a battle over public disclosure of a hedge fund's investments.
Elliott withdrew its court petition seeking discovery about who leaked Elliott's investor letter to the publication just two days before the trade magazine was due to submit an affidavit to the New York state court in Manhattan.
The magazine published its article Aug. 26 despite the pending court case.
Elliott, which argued last week that disclosure of its positions in the investor letter would harm Elliott and damage its competitive position, said "developments since the application was filed made the discovery unnecessary." Source