CSX facing suit over ethics

Click title for full story! CSX facing suit over ethics Among the charges are accusations of insider trading and legal lapses. By TIMOTHY J. GIBBONS, The Times-Union A hedge fund accused by Jacksonville-based CSX Corp. of violating security laws during its feud with the company has struck back with a countersuit, accusing the railroad company and its chief executive officer of a variety of legal and ethical lapses, including using insider trading to benefit its leadership. "CSX Corp. and CEO Michael Ward have committed violations of the federal securities laws through materially false and misleading disclosures," charges the lawsuit filed Friday by The Children's Investment Fund, a British hedge fund that is fighting to add members to CSX's board and change the company's direction.