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.

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.