Paige Capital v. Lerner Master Fund [PREMIUM]

VERDICT

Trial
03/17/11 – 04/21/11

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Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

In this financial services litigation proceeding, plaintiff Paige Capital Management LLC, a hedge fund alleged Lerener Master Fund, its sole investor of breach of partnership agreement by trying to withdraw its money from the fund. In the counter lawsuit filed against the plaintiff the defendant claimed that the hedge manager threatened the defendant if the defendant tried to withdraw its investment from the fund.

The plaintiff Paige Capital Management LLC was represented by attorney William Donal. The defendant in this case, Lerner Master Fund LLC was represented by attorney Joel Friedlander.

Outcome

The court ordered the capital from the Lerner Fund be returned with pre-judgment interest since Octobe 31, 2010. Also, the Paiges had to repay the Hedge Fund any management and incentive fees earned on the capital since October 31, 2010. The claims against the Lerner Fund all failed. The Paiges were ordered to repay the Hedge Fund any fees and expenses advanced in relation to the litigation.

Sessions

Recording Disclaimer: This proceeding was recorded in full except noted sections that were not recorded.

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