- Elliott says proposals are ‘direct threat to activism’ in suit
- Hedge fund seeks records on rule proposals in lawsuit
Elliott Investment Management, the activist firm founded by Paul Singer, is suing the US Securities and Exchange Commission in an effort to obtain records on rule proposals that would impact his firm’s strategy of building stakes in public companies.
The firm has accused the Wall Street regulator of failing to hand over public records, including internal communications, that would shed light on the process around considering the rule proposals, according to a lawsuit filed Thursday in Washington federal court. The proposed rules, among other things, require greater disclosure when a security-based swap position surpasses a certain threshold.
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