A hearing was held in the U.K. today to determine whether the temporary injunction against The Wall Street Journal should be upheld. The injunction was served in connection with the newspaper’s decision to publish the names of people who could be implicated in the U.K.’s ongoing investigation into Libor-rigging. According to Dow Jones, the parent company of The Wall Street Journal, a hearing was held this morning in a U.K. courtroom, and the court found that there was no reason to renew the injunction.
The Wall Street Journal reposts the story
Dow Jones applauded the court’s decision and said they would be putting the story in question back up on their website.
“We are delighted that the temporary injunction has not been renewed” a spokesperson for Dow Jones said in a statement. “This represents a victory for all media organizations operating in England and Wales, many of whom supported us in this effort. We will be re-posting the previously published story to WSJ.com, and remain fully committed to pursuing the aggressive, informative and independent journalism for which we are known.”
ADW Capital’s 2020 letter: Long CDON, the future Amazon of the Nordics
ADW Capital Partners was up 119.2% for 2020, compared to a 13.77% gain for the S&P 500, an 11.17% increase for the Russell 2000, and an 8.62% return for the Russell 2000 Value Index. The fund reports an annualized return of 24.63% since its inception in 2005. Q4 2020 hedge fund letters, conferences and more Read More
Deutsche Bank’s internal Libor probe widened
Today it was also revealed that Deutsche Bank AG (NYSE:DB) (ETR:DBK) is widening its internal probe regarding allegations that some of its traders and brokers manipulated Libor benchmark interest rates. Reuters reports that sources close to Deutsche Bank say the bank has called about 50 employees in for questioning after the bank discovered a new chat room in which traders might have colluded to fix Libor.
Deutsche Bank AG (NYSE:DB) (ETR:DBK), as well as other banks including JPMorgan Chase & Co. (NYSE:JPM) and Citigroup Inc (NYSE:C) are also facing a regulatory investigation about whether they manipulated Libor. Deutsche Bank says it is cooperating with investigators but that its legal department is also conducting the internal inquiry. The bank suspended five traders in February in connection with the findings of its internal investigation.