After a year that saw $155 billion in hedge fund withdrawals, two investors who had invested about $1.6 million with AJW Qualified Partners, LLC (the Fund), a hedge fund managed by N.I.R. Group (N.I.R. or the Manager), filed a lawsuit in a dispute over the Fund’s redemption provisions. In September 2008, plaintiff Steven Mizel and his limited partnership, Palmetto Partners (Palmetto) sought to redeem their approximately $1.68 million investment in the Fund. Instead, in October 2008, the Fund allegedly froze all redemption requests and sought to reorganize into a new fund that had a different management compensation structure and more restrictive withdrawal rights. The Fund also allegedly refused to supply plaintiffs with certain information about the Fund, particularly a list of its members. Plaintiffs then brought suit in New York State Supreme Court, alleging anticipatory breach of contract by the Fund and breaches of fiduciary duty by the Manager and its principal, Corey S. Ribotsky. The Hedge Fund Law Report analyzed the relevant pleadings in the case and a related case involving similar allegations brought against Ribtosky by Gerald Tucci. This article summarizes our analysis.