New Jersey Court Dismisses Fairfax Suit Against Exis Capital

New Jersey Superior Court Judge dismissed a long-running lawsuit filed by Canada’s Fairfax Financial Holdings Ltd against Exis Capital fund manager Adam Sender, saying the claim was not supported by law.

The multi-billion lawsuit was filed in 2006 against a large group of hedge funds for allegedly spreading false rumors and driving down Fairfax’s stock price.

Fairfax’s multi-billion lawsuit against individuals and companies

Prem Watsa’s Fairfax Financial Holdings Ltd and its Morristown-based subsidiary, Crum & Foster filed a law suit back in 2006 accusing individuals and 27 other companies, including Exis Capital Management, of using dubious methods like bribery and stock...