7th Circ. Kills Suit Over Hedge Fund's $7M Freddie Mac Loss

Law360, Los Angeles (July 9, 2013, 8:25 PM EDT) -- The Seventh Circuit on Tuesday affirmed the dismissal of an investor suit against hedge fund Sitara Capital Management LLC over the fund's loss of $6.8 million in Freddie Mac stock, saying the investors failed to present any valid causes of action.

A three-judge panel said Tuesday that while an Illinois federal court had given the investors a great deal of latitude to amend their complaint, the investors had repeatedly failed to plead any legitimate causes of action. The lower court granted summary judgment in favor of...
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Case Information

Case Title

Shailja Gandhi et al v. Sitara Capital Management, LLC et al

Case Number



Illinois Northern

Nature of Suit



Honorable Joan B. Gottschall

Date Filed

May 25, 2009

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