CSX donates to congress before hearings
| May 19th, 2008 | ||
| The railroad giant CSX made $45,000 in donations to key lawmakers right before they were sent to hold a congressional hearing on investment in the rail industry. CSX is being targeted by activist hedge funds The Children's Investment Fund and 3 G Capital Partners, both of whom are invested in the railroad company. The funds, which own a combined 8.3 percent of CSX, complain the company's stock has underperformed its peers over the years despite having the industry's highest-paid executives. CSX is also suing the funds in federal court, claiming they violated securities laws by not disclosing their full holdings in the company. The hedge funds are expected to bring up the potential payoffs to congressmen. | ||
For Detailed Investor Profiles on these Investors, click below: |
The Children's Investment Fund Mgmt |
3G Capital Management |
Related People: Chris Hohn;
Related Entities: 3G Capital Partners LP;
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