Just The News: A pair of private investigators are arguing in a lawsuit that a major U.S. hedge fund is stiffing them out of over $3 million in fees following a major hit the fund took while pursuing a short-sell scheme against a natural supplement company.
The concept of the “short sell” has received major media attention over the past several weeks due to the controversy involving the major fluctuations in the price of GameStop’s stocks.
Business Exposure Reduction Group, a Florida-based investigative firm, argues in the U.S District Court suit that Pershing Square Capital Management is failing to pay millions of dollars in hourly fees owed to the investigation company for work investigating dietary supplement corporation Herbalife.
Pershing hired BERG “to investigate the conduct and business activities of Herbalife, Ltd … and its distribution network for Pershing’s use in managing its investment funds and in evaluating and making investment decisions in Herbalife,” the suit asserts. more
Let’s start the IOTW Hedge Fund. Where do we get the license to pick people’s pockets?