Denmark’s Dividend Tax Lawsuit Heads for UK Supreme Court (Reuters)
The Danish tax authority’s attempt to pursue almost 80 defendants in London over alleged tax fraud, including Dubai-based hedge fund manager Sanjay Shah’s Solo Capital Partners, is heading for the UK Supreme Court, lawyers said on Monday. The Danish Customs and Tax Authority, Skatteforvaltningen (SKAT), alleges Shah and others duped them between 2012 and 2015 into refunding dividend taxes that should never have been paid in the so-called “cum-ex” scandal. Shah denies wrongdoing.
Sculptor and Former Boss Och Settle Dispute (Hedge Week)
Founder Dan Och and other former senior executives of Sculptor Capital Management have resolved a legal fight with the hedge fund by forming a special committee to explore potential transactions, according to a report by Bloomberg. The report cites a statement issued by the new New York-based firm on Friday that the committee, which will be made up of independent directors, will gauge potential interest from third parties “that maximises value for shareholders”. A deal could prove challenging for Sculptor, whose flagship hedge fund is underwater and has grappled with outflows almost every year since 2014. Its stock has lost more than half of its value in 2022.
Insider Trading: November 21, 2022 (BIV.com)
Insider Michael Robert Martin, director. Company: Aurinia Pharmaceuticals Inc. (Nasdaq:AUPH). Shares owned: 55,475. Trade date: Nov. 7. Trade total: US$154,800. Trade: Acquisition of 30,000 shares at a price of US$5.16 per share. Insider Ross J. Beaty, director. Company: Equinox Gold Corp. (TSX:EQX). Shares owned: 23,988,890. Trade date: Nov. 4. Trade total: $992,250. Trade: Acquisition of 262,500 shares at a price of $3.78 per share.
Monday 11/21 Insider Buying Report: ESAB, INTC (Nasdaq.com)
On Wednesday, Esab’s Director, Mitchell P. Rales, made a $20M purchase of ESAB, buying 500,000 shares at a cost of $40.00 a piece. Rales was up about 15.1% on the purchase at the high point of today’s trading session, with ESAB trading as high as $46.02 in trading on Monday. Esab is trading up about 0.4% on the day Monday. And at Intel, there was insider buying on Wednesday, by Director Tan Lip Bu who bought 50,000 shares for a cost of $29.49 each, for a trade totaling $1.47M. Before this latest buy, Tan bought INTC on 2 other occasions during the past year, for a total investment of $1.4M at an average of $27.96 per share. Intel is trading off about 1.4% on the day Monday.
Super Micro Computer, Ryan Specialty And This Technology Stock Insiders Are Buying (Benzinga)
Ryan Specialty: The Trade: Ryan Specialty Holdings, Inc. (RYAN) CEO Patrick Ryan acquired a total of 182,400 shares an average price of $33.86. To acquire these shares, it cost around $6.18 million. Alight: The Trade: Alight, Inc. (ALIT) Director Richard Massey acquired a total of 100,000 shares at at an average price of $8.41. To acquire these shares, it cost around $840.5 thousand.
