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How the Activists Retain the Element of Surprise
Hedge fund firms like Elliott Management, Starboard Value and Jana Partners coordinate their stake building to the disclosure system.
Paul Singer of Elliott Management When Paul Singer’s Elliott Management Corp. disclosed on Monday evening its activist stake in Imperva, it apparently took investors by surprise. Shares of the cybersecurity company advanced more than 11 percent on Tuesday. Before the big move, the stock was trading near the bottom of its 52-week range.
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