Dubai Court Requests More Documents in Sanjay Shah Extradition Case (The National News)
Authorities in Denmark have been asked by the Dubai Court to provide additional documents related to the extradition case involving British hedge fund trader Sanjay Shah. The case was heard in court for the first time on August 8 but has been delayed several times due to Danish authorities failing to provide the additional documents. “We believe Denmark did not fully comply with the requirements of international extradition treaties and the UAE’s law No 39 on extradition,” a representative of Horizons & Co, the law firm representing Mr Shah, told The National on Thursday.
Hedge Funds Continue Positive Summer Run in August Following Torrid First Half (Hedge Week)
HFR’s Fund Weighted Composite Index – a broad-based index tracking the monthly returns of some 1400 single manager hedge funds across all strategy types – remains negative at -3.95% over the eight-month period to the end of August, as long/short equity hedge funds’ year-to-date losses hit double-digit territory. But last month’s 0.50% rise across all managers follows a July return of 1.27%, which reversed three months of consecutive losses between April and June for the industry. HFR President Kenneth Heinz said the industry has successfully traversed a sharp stock market slump, rising interest rates, inflation and the widely-predicted aggressive monetary policy to deliver “a strong, inversely correlated gain in August, extending the strong July surge.”
Bridgewater Surged in August (Institutional Investor)
Bridgewater Associates posted another round of very strong results in its main hedge fund in August.The world’s largest hedge fund firm’s macro fund, Pure Alpha 18 Percent — also known as PA II — jumped 6.6 percent last month, boosting its gain for the year to 27.4 percent…
Friday 9/9 Insider Buying Report: TERN, DISH (Nasdaq.com)
On Wednesday, Terns Pharmaceuticals’, Hongbo Lu, made a $2.16M purchase of TERN, buying 600,000 shares at a cost of $3.60 each. So far Lu is in the green, up about 51.4% on their buy based on today’s trading high of $5.45. Terns Pharmaceuticals is trading up about 22.9% on the day Friday. Before this latest buy, Lu made one other purchase in the past year, buying $6.98M shares at a cost of $2.66 each. And at DISH Network, there was insider buying on Tuesday, by James Defranco who bought 110,000 shares at a cost of $16.73 each, for a trade totaling $1.84M. Before this latest buy, Defranco bought DISH on 7 other occasions during the past twelve months, for a total cost of $37.01M at an average of $18.98 per share. DISH Network is trading up about 5.5% on the day Friday. Defranco was up about 12.6% on the buy at the high point of today’s trading session, with DISH trading as high as $18.84 at last check today.
Tricida 10% Owner Makes $7.92M Stock Purchase (Benzinga)
Venrock Healthcare Capital Partners II, L.P., 10% Owner at Tricida TCDA, reported a large insider buy on September 7, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that L.P. purchased 686,712 shares of Tricida. The total transaction amounted to $7,918,744. Tricida shares are trading up 1.13% at $11.59 at the time of this writing on Thursday morning.
