Parkcentral Investors File Suit Over Fund's Collapse

Law360, New York (September 23, 2010, 12:56 PM EDT) -- Investors in Parkcentral Global LP, a collapsed multibillion-dollar hedge fund, have filed an amended complaint alleging the fund breached its fiduciary duty through gross mismanagement and a failure to follow its own strategies.

Southern Avenue Partners LP filed its amended, consolidated class action complaint against The Perot Family Trust, Perot Investments Inc., Petrus Securities LP and several other individuals in the U.S. District Court for the Northern District of Texas on Wednesday.

The action arises from “the total destruction” of a multibillion-dollar hedge fund managed and...
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