Hedge Fund and Insider Trading News: Dan Kamensky, Archegos Capital Management, Elliot Management, Telia Company AB (TLSNF), Navidea Biopharmaceuticals Inc (NAVB), and More

Hedge-Fund Founder Seeks to Avoid Prison in Neiman Bankruptcy Fraud (The Wall Street Journal)
Dan Kamensky, the hedge-fund founder who pleaded guilty to rigging a bid for shares in Neiman Marcus Group Ltd.’s former Mytheresa subsidiary, is asking a federal judge for leniency amid a show of support from his peers in the distressed-debt investing community. Mr. Kamensky faces up to 18 months in prison under federal sentencing guidelines as part of his agreement with federal prosecutors in February to plead guilty to one count of bankruptcy fraud, which carries a maximum sentence of five years in prison.

GlaxoSmithKline to Drop Quarterly Results as Elliot Presence Signals It’s Time for Change (Proactive Investors)
GlaxoSmithKline PLC (LON:GSK) is set to drop its quarterly results at a time of turmoil, as activist hedge fund Elliot is understood to have built up a significant stake. The pharma giant is unlikely to comment much on the new addition shareholder roster, but investors are expecting more news on the horizon as Elliot is known to be a catalyst for change.

Coeli Milestones (Hedge Nordic)
Stockholm (HedgeNordic) – Coeli Absolute European Equity, founded and managed by Mikael Petersson out of Malmö, has passed SEK 1 billion in assets under management soon after reaching its three-year anniversary in January. Along with the progress on growing assets, Coeli European – a fund management firm co-owned by Petersson and the Stockholm-based Coeli Group – will soon be joined by an experienced institutional sales professional from London, Cecilia Biveson.

Pressmaster/Shutterstock.com

Archegos Hit to UBS Stuns Investors as Shares Slide (CNBC)
LONDON — UBS surprised market participants on Tuesday, announcing that profits had taken a hit from the Archegos Capital saga — almost a month after the collapse of the U.S. hedge fund. The Swiss bank waited until its results day to inform markets about its exposure to the firm, a move that has sparked questions about transparency in the industry.

Hedge-Fund Trader Wins Dismissal of $2 Billion Cum-Ex Case (Bloomberg)
Hedge Fund trader Sanjay Shah won his bid to throw out a 1.5 billion-pound ($2 billion) lawsuit filed by Danish tax officials over Cum-Ex trades, in a blow to the nation’s efforts to claw back vast sums officials claim were lifted from state coffers. London judge Andrew Baker said in a ruling Tuesday that the U.K. wasn’t the proper place to bring a foreign tax claim. The Danish agency said it would appeal.