$311M In Claims Axed From Citco Hedge Fund Suit

Law360, New York (February 11, 2009, 12:00 AM EST) -- A federal judge has knocked claims for about $311 million out of an investor lawsuit stemming from the collapse of two British Virgin Islands-based hedge funds owned by Citco Fund Services NV, granting a motion by a Citco subsidiary for reconsideration of an earlier summary judgment order.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York ruled Tuesday that a number of claims by investors against Citco and its officers for breach of fiduciary duty should be dismissed. She...
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