Ex-Hedge Fund Head's $36M Fraud Judgment Upheld In Del.

Law360, Wilmington (March 14, 2013, 7:57 PM EDT) -- The Delaware Supreme Court on Wednesday affirmed $35.6 million in awards to two hedge fund executives over a fraud perpetrated by their former partner at Paron Capital Management LLC, ruling a lower court's decision was neither ill-founded nor improper.

Paron principal James D. Crombie had appealed a Chancery Court finding that he used false promises and falsified documents to lure Peter McConnon and Timothy Lyons into leaving their high-paying jobs and joining the fund, claiming the ruling was unsupported by the record and the award of...
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