Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018

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Fairfax $8bn short-selling lawsuit dismissed

  • Catrin Shi 4 April 2018
  • A long-standing $8bn lawsuit between Fairfax Financial and billionaire investor Steven Cohen has been thrown out of court.

    Fairfax alleged that the SAC Capital founder had spread false rumours about the Canadian firm to drive down its share price.

    According to a Reuters report, New Jersey superior court judge Frank DeAngelis said the case, which has been going on for nearly 12 years, did not belong in that jurisdiction.

    The judge said there was not enough evidence SAC Capital and...

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