Hedge Fund Loses Challenge Of Disclosure Rules

Law360, New York (February 4, 2011, 4:33 PM EST) -- A federal appeals court on Friday shot down Full Value Advisors LLC’s constitutional challenge of the U.S. Securities and Exchange Act’s disclosure requirements for institutional investment managers holding at least $100 million in securities.

The U.S. Court of Appeals for the District of Columbia Circuit held that Full Value’s arguments that the requirements compelled speech in violation of the First Amendment and should be viewed as an uncompensated taking in violation of the Fifth Amendment failed on the merits to the extent that the company sought...
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