In a joint statement, Julian H. Robertson, founder of Tiger Management Corporation, and BUSINESS WEEK announced that they have reached a settlement, and Mr. Robertson will withdraw his libel suit against BUSINESS WEEK. No money or other financial consideration is involved. BUSINESS WEEK acknowledged that predictions regarding Tiger's investment performance included in its Cover Story of Apr. 1, 1996, "The Fall of the Wizard of Wall Street," with the sub-headline "Tiger: The Glory Days Are Over," have not been borne out by Tiger's subsequent investment performance, which included a 48% gain before fees (38.4% after fees) in 1996 and a 67.1% gain before fees (53.7% after fees) through Dec. 11, 1997. BUSINESS WEEK acknowledges that these results under Mr. Robertson's management, which far exceed market averages and the performance of other leading hedge funds, were superior by any measure.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.