Cantor Fitzgerald Gets Hedge Fund Investors' Claims Pared

Law360, New York (April 18, 2013, 6:28 PM ET) -- A federal judge in Louisiana on Wednesday granted most of Cantor Fitzgerald & Co.’s request to dismiss claims it was involved in stiffing investors in now-bankrupt hedge funds, except an allegation for aiding and abetting a breach of fiduciary duty.

But Commonwealth Advisors — which managed the nine hedge funds from where millions of dollars in investors’ money was shifted into a consolidated debt obligation — and fund manager Walter Morales are still on the hook after U.S. District Judge James J. Brady refused to dismiss...
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