Ackman's SPAC lawsuit - Wealth manager hiring spree - Consulting firm vax mandate
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On the agenda today:
- Bill Ackman's SPAC is reportedly being sued $4
- We outlined the firms that won - and lost - $4
- Now is a really good time $4
Let's get started.
Bill Ackman's SPAC is reportedly being sued>$4
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Billionaire hedge-fund manager Bill Ackman's SPAC is being sued for not operating as a blank-check firm, The New York Times first reported. The suit claims Ackman's SPAC has behaved more like an investment company than an operating company. Here's a closer look at what that means.>$4
Alvarez & Marsal will place unvaccinated employees on unpaid leave>$4
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Top consulting firm Alvarez & Marsal just announced one of the strictest vaccine mandates yet: get vaccinated or take unpaid leave. Starting Oct. 31, employees who don't get the shot will be placed on a leave of absence, which could last up to six months. Here's everything we know so far.>$4
Meet the hedge fund winners and losers of China's sell-off>$4
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Chinese stocks continued to tumble this week amid new economic data and an ongoing regulatory crackdown $4 Firms like D1 Capital and Coatue made big bets before the market took a dive, while others, like Tiger Global Management and Sculptor Capital, trimmed their positions early - and avoided serious damage. Take a look at the winners and losers of the Chinese stock sell-off.>$4
It's a really good time to be a wealth manager>$4
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There's hardly been a better time to be a wealth manager: America's wealthy are getting richer, and private firms and banks are staffing up to serve these clients, who often have at least $10 million in assets. These are five of the top players on the hiring hunt.>$4
Tiger Legatus bet big on ride-hailing app Didi. Then Chinese stocks crashed.>$4
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The firm, seeded by Tiger Management founder and billionaire Julian Robertson, bet big on DiDi Global, $4 since its $4.4 billion IPO. More on that here.>$4
M&A due diligence is facing a backlog>$4
Amid a surging mergers-and-acquisitions market, firms that provide due diligence on deals are struggling to keep up. More deals and fewer workers are putting a strain on firms like EY, which are tasked with vetting targets' financials - and they're having to turn prospective clients away as a result.>$4
The twist? The hacker had just stolen more than $600 million from Poly Network, the firm that offered him a job. More about the hacker that stole the funds "for fun :)" and then landed a job offer. >$4
