New York Supreme Court Holds that Ninety Percent Loss in Hedge Fund’s Value Put Investors On Notice of Potential Fraud

On January 17, 2008, the New York Supreme Court granted a fund manager’s motion to dismiss investors’ fraud and other claims brought in April 2007, holding that a 90% drop in the fund’s value put the investors on notice of the fraud by September 2002 and the applicable statute of limitations expired two years following the date on which the investors knew or should have discovered the fraud.

To read the full article

Continue reading your article with a HFLR subscription.