Ruling Stands In $550M Fund Admin Fraud Case

Law360, New York (November 14, 2008, 12:00 AM EST) -- A federal judge who last month granted summary judgment in favor of a division of State Street Co., finding that it was not responsible for $550 million in losses stemming from the liquidation of a British Virgin Islands-based hedge fund, has denied a motion by the plaintiffs in the case seeking to have the ruling overturned.

Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York admitted Wednesday that the calculations in her initial ruling had mistakenly not included a...
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