hedge fund News

JPMorgan Wins Appeal Against Insurers Over Bear Stearns Settlement

NEW YORK — New York’s highest court ruled on Tuesday that JPMorgan Chase & Co is entitled to insurance coverage for $140 million of a U.S. Securities and Exchange Commission settlement with the former Bear Stearns Cos. over improper mutual …

Baupost Collects $3 Billion Wagering on PG&E’s Wildfire Claims

Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people with knowledge of the …

Daniel Loeb’s Yacht Damages Belize Coral Reef

A luxury yacht owned by hedge fund manager Daniel Loeb damaged a pristine reef atoll in Belize near the famous Great Blue Hole, a popular diving site. The 200-foot (61 meter) Samadhi, owned by Third Point founder Loeb, was filmed …