Sky Bell Funds Sued Over Ponzi Investments

Law360, Los Angeles (May 6, 2013, 9:16 PM EDT) -- Seven limited partnership units operated by Sky Bell Asset Management LLC were hit with a proposed class action in Delaware federal court Monday by the limited partnerships’ owners, who say they lost millions when the funds’ money went into the Madoff and Petters Ponzi schemes.

The lawsuit, which alleges breach of fiduciary duty, aiding and abetting breach of fiduciary duty and negligence, raises allegations that the limited partnerships’ general partners did little or no due diligence regarding the investments they made. Meanwhile, the complaint alleges, the...
To view the full article, register now.




Case Information

Case Title

Tuttle et al v. Agile Sky Alliance Fund LP et al

Case Number




Nature of Suit

Stockholders Suits


Richard G. Andrews

Date Filed

May 6, 2013

Law Firms

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.