Hedge Fund Sues Commerzbank Unit For $68M

Law360, New York (October 8, 2010, 12:46 PM EDT) -- A New York hedge fund has sued a unit of Germany’s Commerzbank Group for $68 million, alleging the bank violated its contractual obligation to pay the fund for its investment in profit-dependent securities that were used to raise capital.

QVT Fund LP filed a complaint Thursday in the Court of Chancery for the State of Delaware in Wilmington, accusing Eurohypo AG of breach of fiduciary duty, breach of contract and breach of good faith and fair dealing.

The action centers around QVT's investment in securities that...
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