Class Seeks Certification In Hedge Fund Suit

Law360, New York (July 17, 2007, 12:00 AM EDT) -- A group of former shareholders in Bayou Group LLC are seeking class certification in a suit against the now-bankrupt hedge fund over alleged securities fraud.

The plaintiffs, who are led by Broad-Bussell Family Ltd., filed a motion for class certification in the U.S. District Court for the Southern District of New York Monday. The putative class would include those who invested in a Bayou hedge fund from 1997 through August 2005.

August 2005 was when “the financial press began to reveal that Bayou had long been...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.