February 12, 2007
Allied Did Spy On Einhorn
New York fund manager David Einhorn seems to have gained an upper hand in his battle with Allied Capital. Allied recently acknowledged that a private investigator it hired illegally, obtained Einhorn’s personal phone records. This is the latest revelation in a bitter battle that has been raging between the $4 billion buyout fund and Einhorn for the past five years. The trouble began when Einhorn criticized Allied’s accounting policies.
It was in 2003 that Einhorn claimed his phone records were hacked into. While he was quick to point fingers at Allied's investigators, it was only recently that his allegations were proved true. Allied made the admission when it began to review documents in order to comply with a subpoena it received from federal prosecutors in the District of Columbia.
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