• Investment Funds' Failure to Report Beneficial Ownership of CSX Shares "Owned" Through Total Return Swaps Violated Section 13(d)
  • June 30, 2008
  • Law Firm: Mayer Brown LLP - Chicago Office
  • The United States District Court for the Southern District of New York recently held in CSX Corporation v. The Children's Investment Fund Management (UK) LLP, et al, (08 Civ. 2764 (LAK) June 11, 2008), a case involving the proxy fight between two investment fund families and CSX Corporation, that the funds had violated Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by failing to disclose beneficial ownership of CSX shares in which the funds had economic interests through total return swaps.