Appaloosa Bought Post-Bankruptcy MF Global Stock

Law360, New York (November 14, 2011, 9:43 PM EST) -- David Tepper's Appaloosa Management LP purchased 8.64 percent of broker-dealer MF Global Holdings Ltd.'s stock two days after it filed for bankruptcy protection, according to a U.S. Securities and Exchange Commission filing released Monday.

The hedge fund manager, known for investing in troubled companies, bought 14.25 million shares through Appaloosa on Nov. 2, the filing said.

MF Global, which filed for bankruptcy on Oct. 31, holds more than $6 billion in European sovereign debt. It suffered a liquidity crisis the week before it filed a bankruptcy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.