Pirates - Correction

A prior entry in this blog had Pirate Capital LLC (Pirates) down this year.

Recent press reports have Pirates up 3% this year - compared to about 7% for the universe of activist funds.

The SEC investigation of whether Pirates ran afoul of securities law by failing to timely disclose it had sold stocks is still on. Pirates says the regulatory matter was a misunderstanding that it has corrected.

Any defenders of Pirates out there - let me know.