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Wednesday, May 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

Hedge Fund Accused Of Swiping $75 Million

HARTFORD (CN) - S.A.C. Capital Associates, a $14 billion hedge fund, misappropriated $75 million to $100 million from the sale of the third-largest telecom in Jamaica, Oceanic Digital Jamaica, cheating minority shareholders of Oceanic Digital Communications of their share of the proceeds, Nattel LLC claims in Federal Court. It seeks treble damages from SAC and affiliates, and Signal Equity Partners, America Movil of Mexico, and The Bank of New York Mellon Corp. See the federal complaint.

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