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Not that I'm surprised that the firm sued but I wonder what their end goal is and how they're planning on getting any sort of meaningful settlement from a company that's currently on fire. This seems mostly a face-saving measure.
Am I wrong if feeling no sympathy for a Hedge fund getting bilked? Like it's nice that for once it's not the "little guy" getting screwed over.
This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows: • SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding. • Sources are an internal "fund document" and "people familiar with the matter." • The fund document was reviewed by WSJ and states…
Not that I'm surprised that the firm sued but I wonder what their end goal is and how they're planning on getting any sort of meaningful settlement from a company that's currently on fire. This seems mostly a face-saving measure.
Am I wrong if feeling no sympathy for a Hedge fund getting bilked? Like it's nice that for once it's not the "little guy" getting screwed over.
I can't tell you if your schadenfreude over hedge funds losing money is right or wrong, because that's based on normative values. But I'd encourage you to adjust your understanding of the financial dynamics involved.
This is the first article on this news, so I couldn't find a non-paywalled source. For those who don't subscribe to WSJ, the tl;dr is as follows: • SF-based hedge fund, Partner Fund Management LP, is suing "Theranos and its founder", alleging they lied to attract nearly $100M in funding. • Sources are an internal "fund document" and "people familiar with the matter." • The fund document was reviewed by WSJ and states…
FYI, the "web" link is exactly for this. Paywalled sources get penalized in Google's search results, so most of the time searching for the article's title and clicking the Google search results link gets you the full article.
Am I wrong if feeling no sympathy for a Hedge fund getting bilked? Like it's nice that for once it's not the "little guy" getting screwed over.
I have a feeling that this level of lying is much more pervasive in startups than people realize.
Am I wrong if feeling no sympathy for a Hedge fund getting bilked? Like it's nice that for once it's not the "little guy" getting screwed over.
I would think so. You feel sympathy for small investors who get bilked but not large ones, purely because the large ones have more money?