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Fairfax’s once-giant suit shrinks as hedge funds are dismissed

CT Post – Fairfax Financial Holdings Ltd., with seven of eight hedge funds it accused of spreading false rumors no longer in a lawsuit, may see the $24 billion case shrink again with a judge poised to rule whether racketeering counts allowing triple damages should be tossed.

Three of the funds that won dismissal in the case, including billionaire Steven A. Cohen’s SAC Capital Advisors LP in Stamford, have a total $29 billion in assets under management. The two main defendants remaining are a New York hedge fund with less than $100 million and a Memphis, Tenn., brokerage recently sold for $930 million.

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