Unwitting Violations Of ERISA 25 Percent Test

Law360, New York (December 17, 2008, 12:00 AM EST) -- In connection with the staggering investment losses suffered by hedge funds over the last several months, many hedge fund investors have already sought, or will soon seek, to redeem their hedge fund investments.

Most hedge funds place restrictions on when investors may redeem their interests with many of such funds permitting redemptions only once per quarter.

According to industry analysts, it is estimated that more than $40 billion was withdrawn from hedge funds in October alone. (See Matthew Scott, "Hedge Funds Take Beating for Fifth Month...
To view the full article, register now.