Fallout From CSX Remains To Be Seen

Law360, New York (July 25, 2008, 12:00 AM EDT) -- In a much discussed and awaited decision, the United States District Court for the Southern District of New York (the “Southern District”) recently concluded in CSX Corporation v. The Children’s Investment Fund Management (UK) LLP et al. (S.D.N.Y. No. 08 Civ. 2764) that the defendants – two hedge funds that are waging a proxy fight against CSX – were deemed to be the beneficial owners of stock that was the reference security in certain cash-settled, total return equity swaps and that the defendants had not disclosed...
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