With David Kaufman, Anna Pinedo
The United States District Court for the Southern District of New York recently held in CSX Corporation v. The Children’s Investment Fund Management (UK) LLP, et al (08 Civ. 2764 (LAK June 11, 2008)1 that two hedge funds violated Section 13(d) of the Securities Exchange Act of 1934 (“Exchange Act”) by failing to timely disclose the formation of a group and, in the case of The Children’s Investment Fund, failing to timely disclose its acquisition of 5% of the outstanding equity of a U.S. publicly