Upstart Fund Rips TheStreet's Preferred Share Overhang

Law360, New York (July 23, 2013, 3:12 PM EDT) -- An upstart activist fund on Tuesday called for a privatization of TheStreet Inc., the financial news outlet backed by CNBC's Jim Cramer, saying a six-year-old arrangement with a private equity backer is driving down its stock price.

Spear Point Buyout Group, a 7-month-old fund that says it owns 2.2 percent of TheStreet, urged the company to look for a buyer. Taking a page from the Carl Icahn and Nelson Peltz playbook, the New Orleans-based fund also said it would be willing to make a bid, but...
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