Summary Judgment Upheld for Investor’s Claims Against Hedge Fund Manager
November 5, 2014An investor sought to have its shares in a hedge fund redeemed, but the hedge fund made a complex maneuver under Bermuda laws that resulted in the investor receiving less than it anticipated from the redemption. The investor sued the hedge fund, asserting numerous claims, including a negligence claim. The trial court granted summary judgment, and the investor appealed. Addressing the investor’s negligence claim, the Court of Appeals affirmed the trial court’s decision, holding that the hedge fund manager did not owe a duty to the investor.
