Tetragon Shareholder Can't Bring $205M Fraud Suit: Atty

Law360, New York (October 17, 2011, 9:01 PM EDT) -- A lawyer for Tetragon Financial Management LP argued Monday that a suit accusing the fund management company's directors of defrauding investors of $205 million by rigging fees should be tossed because the shareholder behind it had no standing to sue.

The derivative suit, filed in New York federal court, accuses TFM's bosses of setting up a flawed compensation system that let the management company unfairly skim millions from Tetragon Financial Group Inc., a Europe-based investment firm that TFM managed.

But the investor behind the suit, a...
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