• Eighth Circuit Thwarts Hedge Funds from Using "Shakedown" Tactics in Declaring Default
  • January 23, 2009 | Author: Theresa E. Loscalzo
  • Law Firm: Schnader Harrison Segal & Lewis LLP - Philadelphia Office
  • The United States Court of Appeals for the Eighth Circuit has become the first circuit in the country to decide whether a publicly traded company's late filing of quarterly statements with the Securities and Exchange Commission ("SEC") entitles the company's bondholders to declare a default and demand immediate payment of the full principal amount of the bonds.