Tribune Confirms Wyss Departure From Rival Bid, Ending Talks (Bloomberg)
Tribune Publishing Co. confirmed that a rival bid for the newspaper giant lost its biggest funding source, leaving hedge fund Alden Global Capital positioned to succeed in taking over the company. Swiss billionaire Hansjoerg Wyss is dropping out of the $18.50-a-share bid led by Choice Hotels International Inc. Chairman Stewart Bainum Jr., Bloomberg News reported April 17. After conducting due diligence for the past two weeks, Wyss decided not to go forward with the proposal, people familiar with the situation said.
Exclusive-New York’s Infinity Q Winds Down Hedge Fund as Valuation Issues Spread (Reuters)
BOSTON (Reuters) – New York investment firm Infinity Q Capital Management LLC is liquidating its hedge fund as the fallout from a U.S. regulatory probe into its valuation practices spreads, according to a person with knowledge of the matter. The hedge fund wind-down, first reported by Reuters, may expand the Wall Street firm’s client losses and spark further questions over who is to blame for the valuation problems first surfaced by the Securities and Exchange Commission (SEC).
Credit Suisse Faces Lawsuit from Pension Fund Over Greensill, Archegos Issues (Pensions&Investments)
St. Clair Shores (Mich.) Police and Fire Retirement System filed a lawsuit against Credit Suisse Group, accusing the firm of misleading investors and allowing high-risk clients — including Greensill Capital and Archegos Capital Management – to take on excessive leverage. In a securities class action filed April 16 in U.S. District Court for the Southern District of New York, the pension fund said Credit Suisse along with CEO Thomas Gottstein, former Chief Risk and Compliance Officer Lara Warner and Chief Financial Officer David Mathers “issued materially false and misleading statements regarding the company’s business metrics and financial prospects.”
Insider Trading: April 19, 2021 (BIV.com)
Insider Barbara Hislop, director. Company: Canfor Corp. (TSX:CFP). Shares owned: 1,005,861. Trade date: April 5, 6, 7. Trade total: $5,686,318. Trade: Sale of 198,800 shares at prices from $27.76 to $29.15 per share. Insider John Edward Robins, officer Company: Great Bear Royalties Corp. (TSX-V:GBRR). Shares owned: 1,451,256. Trade date: April 5, 6. Trade total: $1,211,360. Trade: Acquisition of 395,600 shares at prices from $2.85 to $3.20 per share.
Deutsche Bank Board Member Investigated Over Alleged Insider Trading (CityA.M)
Germany’s financial regulator has reportedly filed a criminal complaint against a Deutsche Bank board member over alleged insider trading of Wirecard shares. BaFin has filed a complaint against Alexander Schutz over suspicions he used insider information in 2019 and 2020 when trading Wirecard shares, the Financial Times reported. Munich prosecutors told the newspaper they had received the complaint and were awaiting further details. They will evaluate the matter once all the documents have been received.
A Director at HP (NYSE: HPQ) is Selling Shares (Analyst Ratings)
Yesterday, a Director at HP (HPQ), Stacey Mobley, sold shares of HPQ for $2.29M. Following Stacey Mobley’s last HPQ Sell transaction on November 15, 2016, the stock climbed by 19.4%. In addition to Stacey Mobley, one other HPQ executive reported Sell trades in the last month. Based on HP’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $15.65 billion and quarterly net profit of $1.07 billion.
Director Dealing: 3 UK Stocks with Insider Buying (The Motley Fool)
One thing I always keep an eye on as part of my research is director dealing (corporate insiders buying and selling shares in their own companies). Company insiders have an information advantage over the rest of us. If they’re buying or selling company stock, we can potentially gain valuable investment insights. Here, I’m going to highlight three UK shares that have seen insider buying activity over the last month. Should I follow these insiders and buy shares in these companies for my own portfolio?
