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Cathie Wood’s Ark Invest Rocked as Shareholder Seeks Control (2)

Nov. 16, 2020, 9:07 PM

A fight for control has broken out at one of the biggest success stories in the exchange-traded fund world this year.

Cathie Wood, head of Ark Investment Management and manager of the wildly popular Ark Innovation ETF (ARKK) -- which almost doubled this year -- is combating a move from Resolute Investment Managers to purchase a controlling stake in her company, according to a regulatory filing. Resolute, which helps distribute mutual funds and ETFs including Ark’s products, acquired a minority investment in Ark in July 2016 and the option to purchase a controlling voting and equity interest, which ...

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