Hedge fund Elliott drops request to probe magazine

Date: Wednesday, September 1, 2010
Author: Emily Chasan, Reuters

Hedge fund Elliott Management Corp has dropped its court bid to investigate who leaked one of its investor reports to an industry magazine.

In court documents filed on Tuesday in New York State Court, Elliott said it would voluntarily discontinue its request for an emergency court order to find out how the magazine, Absolute Return + Alpha, had obtained its confidential June 30 letter to investors. [ID:nN1996564]

"Elliott Management Corporation today withdrew its petition seeking discovery from Absolute Return+Alpha because developments since the application was filed made the discovery unnecessary," spokesman Scott Tagliarino said in an emailed statement.

Elliott is run by Paul Singer and specializes in distressed investing.