Davis Selected Advisers fund manager Kenneth Charles Feinberg put in an appearance in criminal court in New York City yesterday, but not for any reason you may fear. Feinberg was testifying in the high-profile fraud trial of ex-Tyco International CEO L. Dennis Kozlowski.

Feinberg was called because he purchased nearly $2 billion in Tyco stock for the mutual fund.

Asked whether he would have purchased the stock if he had been aware of bonus paid to Kozlowski he said he would not have.

"This is incredibly important information," said Feinberg from the witness box according to the New York Times. "When we find managers getting paid a lot for things not related to performance, this is very, very troubling for us. It suggests some bad things to us."  

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