Managers Of Busted $2.5B Hedge Fund Fight Class Cert.

Law360, Dallas (November 21, 2013, 6:37 PM EST) -- The former directors of a collapsed $2.5 billion hedge fund that had invested in commercial mortgage-backed securities said at a hearing in Texas federal court Thursday that the fund investors' class certification should be denied because their claims are too individualized to move forward as a group.

The Parkcentral Global LP fund went bust in late 2008. Investors Southern Avenue Partners LP and Levine Capital Ltd. on behalf of a putative class allege Perot Investments Inc. fund managers had lied about the risk they were taking...
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