NEW YORK (TheStreet) - David Einhorn's hedge fund Greenlight Capital has identified the anonymous Seeking Alpha blogger responsible for tipping the public about the hedge fund's investment in Micron technologies (MU).
"Greenlight has identified the anonymous blogger and has resolved the matter privately to our satisfaction," Jonathan Gasthalter, an outside spokesperson for Greenlight Capital, said in an emailed statement to TheStreet.
Earlier in 2014, Greenlight sued Seeking Alpha, asking that the Israeli-based financial website disclose the identity of the author who leaked the hedge fund's accumulating position in Micron Technologies.
Valuable Insights, an anonymous poster to Seeking Alpha, wrote in a Nov. 14 post that Greenlight was in the process of amassing a large position in Micron Technologies.
Greenlight said in a February lawsuit that on the very same day, the hedge fund had requested that the Securities and Exchange Commission give it confidential treatment in building its Micron's stake. Greenlight wanted to keep its investment confidential for another week, the lawsuit contended.
On November 21, Einhorn presented Micron Technologies as an investment recommendation at the Value Investing Congress, an investor event to raise money for charity and that oftern contains market moving investment presentations. In previous years, Einhorn used the conference to to discuss his short position in Lehman Brothers, Keurig Green Mountain (GMCR) and Chipotle Mexican Grill (CMG).
The early disclosure of Greenlight's Micron Investment caused shares in the company to rise, increasing the hedge fund's costs, according to its complaint. Greenlight also contended that anyone who would have been aware of the hedge fund's buying of Micron shares was bound by a fiduciary duty to the fund as a client.
Seeking Alpha rejected Greenlight's request to identify Valuable Insights, causing the hedge fund to bring its case in front of a New York judge.
Monday's disclosure that Greenlight independently identified the leader means that the case won't go forward.
-- Written by Antoine Gara in New York