So the HF strategy is now to: 1. stop hemmorage 2. lose their edge in market (buying order flow from RH) 3. go to court & hopefully settle for less than thei

So the HF strategy is now to: 1. stop hemmorage 2. lose their edge in market (buying order flow from RH) 3. go to court & hopefully settle for less than their AUM. All in all, this seems like a desperate move. Every securities lawyer is celebrating right now because they have a home run case. Either way, Citadel is screwed but the HF managers probably decided its better to call it a day at -30% than over -100%.