I'll bet it was Kuwaiti investors. They got caught purchasing 9.99999% of a large number of publicly traded companies to get around having to follow SEC disclosure rules when owning 10% or more of a company.
The only reason this was discovered was because an investigative journalist managed to get a seat next to one of their attorneys on a flight and photographed documents in his briefcase while he went to the lavatory. Failing that, the public would have never known.
These were many transactions structured in such a way as to obfuscate what was happening. The Kuwaitis totally had America by the balls, as these were large US companies and a decision to dump would have wreaked havoc.
I'll bet it was Kuwaiti investors. They got caught purchasing 9.99999% of a large number of publicly traded companies to get around having to follow SEC disclosure rules when owning 10% or more of a company.
I thought it was 5%? Soros always does like 5%
The only reason this was discovered was because an investigative journalist managed to get a seat next to one of their attorneys on a flight and photographed documents in his briefcase while he went to the lavatory. Failing that, the public would have never known.
These were many transactions structured in such a way as to obfuscate what was happening. The Kuwaitis totally had America by the balls, as these were large US companies and a decision to dump would have wreaked havoc.
This is unrelated to George Soros.
Yeah was just using him as an example of an activist investor. He typically seems to find 5% sufficient to exert control.