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.

Documents

Related

Sections

Case Information

Case Title

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


Case Number

1:13-cv-00802

Court

Delaware

Nature of Suit

Stockholders Suits

Judge

Richard G. Andrews

Date Filed

May 6, 2013

Law Firms

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.