Calif. Receiver Must Pay Piranha Plaintiffs In Ill.

Law360, New York (July 26, 2007, 12:00 AM EDT) -- A federal appellate court ruled Wednesday that a receiver appointed by a California district court must relinquish $1 million to plaintiffs in a securities action in an Illinois district court against hedge fund Piranha Capital LP.

A three-judge panel of the U.S. Court of Appeals for the Seventh Circuit held that Robb Evans & Associates LLC must hand over to a separate group of plaintiffs the $1 million it is holding in receivership as part of an action against two former Piranha advisers in the U.S....
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