DealZone

Deals wrap: Fund manager Soros ending career

July 26, 2011

Billionaire hedge fund manager George Soros will be returning capital to outsiders and ending his nearly four-decade long career. In a letter to investors, Soros’ two sons cited tougher impending regulations on the hedge fund industry being the reason for returning the money. Soros said he will now only manage money for himself.

A study has found more than one-fourth of the 94 U.S. securities fraud lawsuits seeking class-action status and filed from January to June were related to so-called Chinese reverse mergers. Despite this surge in lawsuits, investors may have trouble recouping their losses even if they win.

Walt Disney Co., the majority shareholder of India’s UTV Software Communications, is proposing to buy most of the shares it does not already own in the company and delist them from all bourses. The deal has a market value of $826 million.

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