Investors Sue Hartline Over $550M Hedge Fund Fraud

Law360, New York (January 4, 2012, 8:27 PM EST) -- Four investors filed suit against Hartline Investment Corp. in Illinois state court on Wednesday for convincing them to place their money with a $550 million Florida hedge fund that the U.S. Securities and Exchange Commission sued for alleged fraud.

The suit is part of the continuing fallout from alleged misrepresentations by Florida financier William Gunlicks and his company Founding Partners Capital Management Co., which the SEC sued in 2009 and obtained an asset freeze and the appointment of a receiver.

Investors in the present suit say...
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