(PRWEB) April 06, 2013
Zamansky & Associates LLC announces that it is expanding its investigation of Paulson “feeder” funds in view of the dismissal of the Culverhouse lawsuit. Paulson “feeder” funds are private equity or hedge funds sold by major brokerage firms such as Morgan Stanley, Citigroup, UBS Financial and Merrill Lynch which invested in Paulson & Co.’s (“Paulson”) Advantage and Advantage Plus hedge funds (the “Funds”). According to SEC filings, available at http://www.sec.gov., the feeder funds reflect have names such as UBS Paulson Advantage Fund, LionHedge Paulson, Paulson Advantage Access Fund, Morgan Stanley HedgePremier Paulson, and CAIS Paulson.
On April 2, 2012, BusinessWeek reported that the judge dismissed the lawsuit brought by an investor Hugh Culverhouse against the Paulson Funds. The lawsuit was Culverhouse v. Paulson & Co., Inc., docket no. 12-cv-20695-MGC (S.D. Fla.). The reason for the dismissal, according to BusinessWeek, was that Culverhouse lacked standing to bring claims against Paulson, and was not owed fiduciary duties by Paulson.
According to Jake Zamansky, in his Amended Complaint filed in the lawsuit, Culverhouse acknowledged investing into a feeder fund, and not directly into the Paulson funds. Therefore, Zamansky believes that the dismissal is not surprising, and Culverhouse would have standing if he had filed his lawsuit against the feeder fund in which he was a direct investor. Zamansky also believes that investors in the Paulson funds, either directly or through feeder funds, should be aware that there is now no pending class action claim on their behalf.
Previously, on March 9, 2013, Zamansky had announced an investigation into the Paulson Feeder funds. Zamansky says that the court’s decision in the Culverhouse lawsuit does not change his view that investors in the Paulson feeder funds may have potential claims to assert. He is continuing to investigate claims on behalf of investors who purchased Paulson Funds through Morgan Stanley, UBS Financial, Merrill Lynch and Citigroup.
What Fund Investors Can Do
If you would like to discuss your legal rights and how you might recover your losses from the Paulson or feeder funds, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates LLC
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.