A PYMNTS Company

US: SCOTUS backs hedge funds

By  |  May 29, 2013

An earlier ruling by a lower court clearing various hedge funds of antitrust charges has been backed by the US Supreme Court. SCOTUS ruled last Tuesday to allow a ruling clearing 21 hedge funds of violations of the Sherman Antitrust Act. The funds were accused by Atlanticus Holdings – formerly known as CompuCredit Holdings – of colluding to require that Atlanticus redeem convertible promissory notes decades in advance. A US District Court ruled that the hedge funds were acting as creditors in their actions and thus exempt from antitrust law. The hedge funds include GLG Partners and Akanthos Capital Management. A statement outlining the Supreme Court’s ruling was not given.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: FIN Alternatives

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.