Ex-Gerova Exec Escapes Suit Over Stillwater Deal

Law360, New York (September 20, 2011, 2:16 PM EDT) -- The plaintiffs in a putative breach of contract class action over Gerova Financial Group Ltd.'s purchase of hedge fund Stillwater Capital Partners Inc.'s assets on Monday dropped their sole claim against ex-Gerova Advisors LLC President Jason Galanis.

In a notice of voluntary dismissal without prejudice filed in New York federal court, the plaintiffs said each party would bear its own costs.

Galanis had told U.S. District Judge Shira A. Scheindlin in July that the single claim against him in investor Julie Russo's five-count suit seeking $100...
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