Marcato Capital Management LLC, the $2.7 billion activist hedge-fund firm run by Mick McGuire, plans to vote in support of Third Point LLC’s nominees for the Sotheby’s board, according to a person familiar with the matter.
The U.S. Securities and Exchange Commission is giving “every consideration” to concerns raised by Senator Edward Markey that Herbalife Ltd. may be a pyramid scheme, the agency’s chairman said in a letter dated today.
Seritage Realty Trust’s homepage seeks to dazzle prospective tenants with illustrations of gleaming retail properties featuring landscaped parking lots filled with cars and shoppers. Seritage promises visitors “the locations you need in virtually every major U.S. market.”
Herbalife Ltd., the nutrition company that hedge fund manager Bill Ackman has accused of being a pyramid scheme, posted a 10 percent rise in fourth-quarter profit and boosted its forecast as sales gained in China.
Bill Ackman, the activist hedge-fund manager, said he sold his firm’s General Growth Properties Inc. shares because the expected returns on the investment after management fees wouldn’t be high enough for his investors.