Law360, New York (May 16, 2012, 5:30 PM ET) -- An offshore hedge fund that went bust after its now-indicted manager allegedly conspired to overvalue its holdings was hit with a proposed class action Monday in New York by investors seeking to recoup $800 million in losses.
Institutional investor Marylebone PCC Ltd. took aim against Millenium Global Investments hedge fund manager Michael Balboa, claiming that he conspired with co-defendant BCP Securities LLC to boost the valuation of his emerging market debt instruments and then convinced fund auditor and co-defendant GlobeOp Financial Services Ltd. that the valuations...
Hedge Fund Hit With $800M Suit Over Inflated Valuations
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