Hedge Funds To Sue SEC Over Web Site Restriction

Law360, New York (March 4, 2008, 12:00 AM EST) -- A group of hedge funds founded by shareholder activist Phillip Goldstein has announced plans to sue the U.S. Securities and Exchange Commission in a bid to reactivate a Web site shut down after action by Massachusetts regulators.

Bulldog Investors is under fire from the enforcement section of Massachusetts’ Securities Division for offering unrestricted investor access to its Web site. It intends to file a suit in federal court later this month to declare the site protected by the First Amendment.

The Securities Division filed an administrative...
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