Trade Groups Fault CSX's 'Beneficial Owner' Stance

Law360, New York (June 3, 2008, 12:00 AM EDT) -- The Securities Industry and Financial Markets Association and the International Swaps and Derivative Association Inc. have filed an amicus brief in CSX Corp.'s securities suit against two hedge funds, taking issue with CSX's view on when a person is a “beneficial owner” of a security.

The ISDA, a trade group that represents the privately negotiated derivative industry, and SIFMA, which represents the interests banks, asset managers and securities firms, filed their brief on Monday in the U.S. District Court for the Southern District of New York....
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