Sculptor Rebuffs Och Demand for Merger Records as ‘Vendetta’ (Bloomberg)
Sculptor Capital Management is resisting founder Dan Och’s demand for records and documents related to its proposed merger with Rithm Capital Corp., accusing him of making false claims about the deal as he pursues a “vendetta” against the firm. The $34 billion money manager responded to Och and his allies late Tuesday, saying the group lacks valid grounds to obtain the information.
Hedge Fund MFN Pushing to Set-Up Yellow Shareholder Committee (Hedge Week)
Hedge fund MFN Partners is pushing for the establishment of an official committee to represent shareholder interests in logistics company Yellow’s bankruptcy case, according to a report by the Wall Street Journal citing a securities filing. Boston-based MFN, which holds a roughly 42% stake in Yellow, has submitted a request to the US Justice Department’s bankruptcy division for the appointment an official group of shareholders which, if granted, would allow the shareholder committee to bill its legal fees to Yellow.
FVLCRUM Closes Fund on $302M – Beating Target (Opalesque)
FVLCRUM Partners, a lower middle market buyout firm focused on addressing the U.S.racial wealth gap, announced the final closing of FVLCRUM Fund LP together with its sister fund entities. The fund closed on over $302 million in aggregate commitments, exceeding its target of $250 million. FVLCRUM targets control equity investments in sectors including government contracting, healthcare, and technology-enabled business services. The firm intentionally invests in diverse lower-middle market companies to generate sustainable opportunity for underserved communities. Known investors in FVLCRUM include Western Alliance Bancorporation.
Wednesday 8/30 Insider Buying Report: PODD, LYFT (Nasdaq.com)
On Monday, Insulet’s CEO, James Hollingshead, made a $1.01M purchase of PODD, buying 5,550 shares at a cost of $181.41 each. Hollingshead was up about 13.4% on the purchase at the high point of today’s trading session, with PODD trading as high as $205.70 in trading on Wednesday. Insulet is trading up about 6.9% on the day Wednesday. And at Lyft, there was insider buying on Monday, by Director Prashant Aggarwal who bought 96,900 shares for a cost of $10.34 each, for a trade totaling $1.00M. This purchase marks the first one filed by Aggarwal in the past year. Lyft is trading up about 5.8% on the day Wednesday. So far Aggarwal is in the green, up about 11.6% on their buy based on today’s trading high of $11.54.
$1M Bet On Lyft? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Asana: The Trade: Asana Inc. (ASAN) President, CEO and Chair Dustin Moskovitz acquired a total of 160,000 shares an average price of $21.54. To acquire these shares, it cost around $3.45 million. Lyft: The Trade: Lyft, Inc. (LYFT) Director Prashant Aggarwal bought a total of 96,900 shares at an average price of $10.34. To acquire these shares, it cost around $1 million.
