Barnes & Thornburg Partner Sued Over Receivership Role

Law360, New York (September 17, 2012, 11:09 PM EDT) -- A host of limited partners in funds formerly managed by The Nutmeg Group LLC launched a derivative suit Friday claiming a Barnes & Thornburg LLP partner tapped to act as receiver violated financial regulations and mismanaged the funds, costing investors upward of $50 million.

Filed in Illinois federal court, the 131-page complaint alleges Barnes & Thornburg partner Leslie J. Weiss failed to issue quarterly statements required by federal regulations, neglected to notify the investors of their rights as limited partners, and ignored her appointed duty to...
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