Icahn, Hedge Fund Go Head To Head Over Deal

Law360 (February 3, 2006, 12:00 AM EST) -- A hedge fund has filed a law suit alleging that financier Carl Icahn has engaged in the kind of behavior he usually rails against: Selling assets for personal benefit, rather than acting in the best interests of shareholders.

R2 Investments LDC has filed the suit against Icahn stemming from a convoluted transaction in which the hedge fund mogul was trying to sell assets from one of his companies to a different company that he also controls.

R2 seeks to block a deal in which Icahn’s XO...
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