11th Circ. Axes CompuCredit Antitrust Suit Against Funds

Law360, New York (November 10, 2011, 2:15 PM EST) -- The Eleventh Circuit on Thursday refused to revive CompuCredit Holdings Corp.'s lawsuit accusing the hedge funds that hold its senior convertible notes of violating antitrust laws by working together to force the credit provider to pay above-market prices to redeem the notes early.

Finding that the hedge funds alleged conduct did not constitute a violation of the Sherman Act, the Eleventh Circuit in a per curiam opinion upheld a Georgia federal court's judgment in favor of the hedge funds.

“We're pleased that the Eleventh Circuit agreed...
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