Investors End Suit Over Closed Highland Fund

Law360, New York (October 24, 2011, 5:58 PM EDT) -- Investors in Highland Capital Management LP's shuttered Crusader Fund have approved a distribution plan that brings an end to an employee pension fund's suit claiming Highland lied to investors and looted the fund, the investment management firm said Monday.

According to an Oct. 11 letter filed in Delaware Chancery Court by the attorneys for the Houston Municipal Employees Pension System, the fund asked Chancellor Leo E. Strine Jr. to voluntarily dismiss its suit without prejudice, in light of the approval of a distribution plan that includes...
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