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US: Third Point hedge fund settles Yahoo antitrust case

 |  August 30, 2015

Third Point, the hedge fund firm run by activist investor Daniel Loeb, has settled US regulatory charges that it failed to properly seek antitrust clearance while it built a big stake in Yahoo in 2011.

The settlement, announced on Monday by the U.S. Department of Justice and Federal Trade Commission, resolves claims that Third Point took five weeks too long to tell antitrust regulators it planned an activist stake in Yahoo, after having crossed a threshold requiring disclosure.

Third Point will not pay a fine but entered a five-year agreement to make appropriate disclosures.

The FTC vote was 3-2, with the dissenting commissioners saying the New York-based firm should not have been sanctioned.

Full content: The Wall Street Journal

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