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Investors Sue Over Amaranth’s Billion-Dollar Bust

Law360 (April 2, 2007, 12:00 AM EDT) -- A San Diego pension fund has targeted failed hedge fund manager Amaranth Advisors LLC in a $150 million suit alleging its reckless bets led to the largest hedge fund loss ever.

The San Diego County Employees Retirement Association lodged the securities fraud suit against the former leading energy trader in the U.S. District Court for the Southern District of New York on Thursday. The fund claimed that Amaranth’s bad investments breached its contracts by failing to vary its investments and put in place appropriate risk controls....
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