UBS Sued Over Wood River Hedge Fund's Collapse

Law360, New York (May 23, 2007, 12:00 AM EDT) -- Investors in collapsed hedge fund Wood River Capital Partners LP have reportedly charged UBS AG, the fund’s prime broker, of fraudulently earning more than $100 million by misusing the knowledge of its trades.

A lawsuit filed Monday in New York state court said that investors accused UBS of earning profits by selling, and helping clients to sell, borrowed shares in Wood River’s biggest single stock holding, Endwave Corp., the Wall Street Journal reported.

The 20 plaintiffs, led by Eurycleia Partners LP, had collectively invested $79 million...
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