MJX Fraud Suit Over Citigroup Hedge Fund Quashed

Law360, New York (August 11, 2009, 5:26 PM EDT) -- A federal judge has dismissed a fraud suit against Citigroup Inc., finding that investment fund MJX Plus LLC did not plead its case with particularity when it accused the financial giant of misleading it about an investment.

Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York on Monday told the plaintiffs they could file an amended complaint, setting a deadline of Oct. 15.

MJX Plus, a fund of hedge funds, and affiliate MJX Special Opportunities LLC alleged they invested...
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