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BTCC / BTCC Square / Global Cryptocurrency /
Saba Capital Threatens Legal Action Against Edinburgh Worldwide Investment Trust Over SpaceX Share Sale

Saba Capital Threatens Legal Action Against Edinburgh Worldwide Investment Trust Over SpaceX Share Sale

Author:
Global Cryptocurrency
Published:
2026-01-07 14:01:01
20
1
BTCCSquare news:

Saba Capital Management, led by Boaz Weinstein, has publicly challenged Edinburgh Worldwide Investment Trust (EWIT) over its handling of a SpaceX share sale. The hedge fund alleges EWIT failed to disclose its reduced position in Elon Musk's space company, potentially costing shareholders £37 million ($49.9 million).

The dispute centers on an October sale of SpaceX shares by investment manager Baillie Gifford, which occurred before December reports valuing the company at $1.5 trillion. Saba questions whether EWIT's planned merger with another fund influenced the timing of the transaction.

With $6 billion in assets under management, Saba has set a January 9 deadline for EWIT's board to address its concerns. The firm warns of potential legal action, stating it reserves the right to initiate proceedings on behalf of EWIT shareholders.

This confrontation escalates an ongoing battle between the two parties. Weinstein seeks to replace EWIT's entire board, with a shareholder vote scheduled for January 20.

|Square

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