Hedge funds Children’s Investment Fund Management (TCI) and 3G Capital Partners reponded to a lawsuit yeasterday, saying the CSX filing was "without merit".
“It is unfortunate that CSX has chosen to manipulate the governance and Board election process by delaying the annual meeting and filing baseless claims," the hedge funds said in a joint statement, "These allegations are wholly without merit and we will defend ourselves vigorously.”
In the filing with the Federal Court in New York, railroad company CSX alleged the two hedge funds had not met U.S. regulatory requirements to disclose the size of their holding in the company.
TCI is a London-based asset manager founded in 2003 which manages The Children’s Investment Master Fund. The majority of TCI’s profits go to The Children’s Investment Fund Foundation, a non-profit organization focused on improving the lives of children living in poverty in developing countries.
3G manages a private investment fund that invests in global equities and special situations.
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