Paulson Wants 11th Circ. To Ax Sino-Forest Loss Appeal

Law360, New York (August 5, 2013, 5:53 PM EDT) -- Paulson & Co. urged the Eleventh Circuit on Friday to uphold the dismissal of an investor lawsuit alleging the hedge fund overlooked red flags as it acquired an $800 million stake in now-bankrupt Chinese forester Sino-Forest Corp., saying the investor didn't directly invest in Paulson.

In March, a federal district judge dismissed the suit filed by Hugh Culverhouse, a Miami-based investor and former federal prosecutor, citing Paulson's argument that Culverhouse didn't have authority to sue because he invested in a feeder fund for a Paulson investment...
To view the full article, register now.

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.