Altman Group Inc., a New York proxy solicitation firm, announced Monday that it has begun offering a service to track accumulations of shares by hedge funds.
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The service was developed in response to a rapidly growing demand by investor relations executives, senior managers, and board members for better intelligence on hedge fund positions in public companies, Altman said.
"Many companies have expressed concerns about hedge funds' either threatening or actually commencing proxy contests," Ken Altman, the president of Altman Group, said in a press release. "We've created a product that enables senior management to anticipate and prepare for such events."
