CMU, Pitt Sue Investment Cos. For Misuse Of $300M

Law360, New York (February 23, 2009, 12:00 AM EST) -- Carnegie Mellon University and the University of Pittsburgh have sued two investment companies that operated a commodity pool, alleging that at least two of the pool's managers co-opted more than $300 million for their personal use.

The complaint, filed Friday in the U.S. District Court for the Western District of Pennsylvania, alleges that although Westridge Capital Management Inc. claimed that a commodity pool that it held contained upward of $400 million in assets, more than $324 million of those assets were actually in the form of...
To view the full article, register now.