From the Wall St Journal: A New Jersey superior court judge agreed to remove hedge-fund giant SAC Capital Advisors LP as a defendant in a five-year-old, $8 billion lawsuit by Canadian insurer Fairfax Financial Holdings Ltd., which had accused a group of hedge funds of targeting it in a short-selling conspiracy.
Judge Stephan Hansbury said there is no evidence SAC made false statements, as was alleged by Fairfax, or that it ever engaged in the pattern of short selling alleged in the case. "The trading records are irreconcilable with the allegation that SAC was part of a ...
http://online.wsj.com/article/SB10001424053111903927204576571190456495856.html?mod=WSJ_business_whatsNews
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