Filing Dated mid- 2006:
If you have not read the actual lawsuit, I strongly encourage you all too.
I tried to attach the actual lawsuit, yet the file size was too large. So you can view it by following this link:
http://www.fairfax.ca/Assets/Downloads/Press/fpr2006-07-26.pdf
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Fairfax Financial Holdings Limited announces that today it filed a lawsuit seeking $5 billion in
damages from a number of defendants who, the complaint alleges, participated in a stock market
manipulation scheme involving Fairfax shares.
The complaint, filed in Superior Court, Morris County, New Jersey, alleges violations of various
state laws, including the New Jersey Racketeer Influenced and Corrupt Organizations Act
(RICO), pursuant to which treble damages may be available.
Defendants include: S.A.C. Capital Management, LLC, S.A.C. Capital Advisors, LLC, S.A.C.
Capital Associates, LLC, S.A.C. Healthco Funds, LLC, Sigma Capital Management, LLC,
Steven A. Cohen, Exis Capital Management, Inc., Exis Capital, LLC, Exis Differential Partners,
L.P., Exis Integrated Partners, L.P., Adam D. Sender, Spyro Contogouris, Max Bernstein,
Andrew Heller, Lone Pine Capital, LLC, Lone Pine Members, LLC, Lone Pine Associates, LLC,
Rocker Partners, L.P., Copper River Partners, L.P., David Rocker, Third Point LLC, Daniel S.
Loeb, Jeffrey Perry, Trinity Capital Of Jacksonville, Inc., Trinity Fund, Ltd., Morgan Keegan &
Company, Inc., John D. Gwynn, and Christopher Brett Lawless.
Has anyone ACTUALLY READ the charges that Fairfax Financial is bringing upon the most powerful hedge funds on Wall Street? The extent of the manipulation that these Hedge Funds went to to earn a buck is simply jaw dropping.
It is amazing how far the tentacles of the hedge funds stretches, and the lengths that they go through to illegally move a company's share price.
If/when these Hedge Funds are convicted, it will be the biggest story Wall Street has ever heard. The Hedge Funds indicated in the suit collectively control a large percentage of the volume of the NASDAQ and NYSE.
I am shocked that the allegations (especially given the credibillity of Watsa, and the lackthereof at the Hedge Funds) have not gotten more attention throughout the media.
What will this mean for the shady, "nondisclosed" world of hedge funds and the financial markets, when the case hits trial and reveals the extent of the evil practices going on at the top of Wall Street.
The massive Bernie Madolf scandal will look like a walk in the park compared to these Hedge Funds!!
accompanying link:
http://www.fairfax.ca/Assets/Downloads/Press/fpr2006-07-26.pdf
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