(Reuters) - The San Diego Employees Retirement Association
sued Amaranth in March for $150 million in the first and so far
only investor lawsuit over the biggest hedge fund collapse
ever. The suit claimed Amaranth violated its investment
mandates by not maintaining proper portfolio diversity or risk
controls.
Greenwich, Connecticut-based Amaranth, which is in the
process of liquidating assets now valued at about $400 million,
said in Thursday's court filing in Manhattan that its offering
documents do not require it to maintain investment diversity as
the San Diego fund claimed. The case is being closely watched
in the hedge fund industry.
Read more at Reuters.com Mergers News
sued Amaranth in March for $150 million in the first and so far
only investor lawsuit over the biggest hedge fund collapse
ever. The suit claimed Amaranth violated its investment
mandates by not maintaining proper portfolio diversity or risk
controls.
Greenwich, Connecticut-based Amaranth, which is in the
process of liquidating assets now valued at about $400 million,
said in Thursday's court filing in Manhattan that its offering
documents do not require it to maintain investment diversity as
the San Diego fund claimed. The case is being closely watched
in the hedge fund industry.
Read more at Reuters.com Mergers News
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