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Alternative Market Briefing

Harvard Professor Laurence Tribe to argue on behalf of hedge funds in Bulldog appeal on January 6, 2011

Tuesday, December 21, 2010

From Kirsten Bischoff, Opalesque New York:

Phil Goldstein and his partners at NJ-based value manager Bulldog Investors have been fighting for first amendment rights for hedge funds for almost four years. On January 6th 2011 , oral arguments for the team's appeal arguing that it is unconstitutional to require hedge fund managers to require unsolicited website visitors to prove their eligibility as qualified investors before receiving fund information. In Goldstein's own words "We are simply saying a law that requires an unsolicited website visitor to prove he is eligible to invest in a hedge fund, i.e., rich, in order to get information about the hedge fund, is unconstitutional. (It is also silly, similar to prohibiting someone from window-shopping at Tiffany's unless he can first prove that he can afford to buy the jewelry on display.)"

The team has been continually appealing decisions that have gone against them, and so for the January 6th appeal, Goldstein announced on Monday that Harvard University Professor Laurence Tribe has agreed to argue that "both hedge fund managers and readers who are not wealthy have the same free speech rights that the First Amendment guarantees to all Americans."

The argument on January 6th is open to the public and the press and will also be available via webcast at this site: Source.......................

To view our full article Click here

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