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Dan Loeb learns email is forever

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RTR2D72S.jpgBy Matthew Goldstein

The trouble with email is that even once you hit the delete button a message often is never really gone.

Long forgotten emails often lie buried in the deep recesses of a computer’s hard drive. That is until some  enterprising lawyer with a subpoena comes around and gets a techie to retrieve it. And all too often, those old emails can come back to haunt a person — especially in litigation.

And that’s the predicament hedge fund manager Dan Loeb now finds himself in as some especially graphic emails he wrote years ago about Fairfax Financial are starting to come to light. Reuters wrote about those emails and how Fairfax’s five-year-old litigation against Loeb and other prominent hedge funds managers could start causing some public relations headaches for $1.9 trillion hedge fund industry.

If deposition testimony of Loeb, Steven Cohen and James Chanos gets unsealed by the New Jersey judge overseeing the Fairfax lawsuit, the public could get unusual insight into how top fund managers operate when they don’t think anyone is looking.