Fri, Apr 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Industry Updates

US Federal Court dismisses case against Epsilon

Friday, December 24, 2010
Opalesque Industry Update - A U.S. Federal Court has dismissed a civil lawsuit pending  in Seattle against Epsilon Global Active Value Fund II, Ltd.  The case was terminated after  the federal court determined that there was no remaining cause of action. 

  The decision, issued on December 6, 2010 by Judge Richard A. Jones of the U.S. District  Court for the Western District of Washington in Seattle, brings to an end all aspects of a  lawsuit against four Epsilon entities as well as fund manager Steve G. Stevanovich filed  in March, 2010 by the Seattle City Employees Retirement Fund (SCERS).   The Court had  previously dismissed three of the four Epsilon companies and Mr. Stevanovich from the  action.    

  In its original complaint, SCERS sought to compel Epsilon and Mr. Stevanovich to provide  certain audited financial information.  Epsilon responded that it could not meet the  demand until its auditors completed an ongoing audit, although Epsilon did provide  SCERS with documents that the Court determined were a “reasonable equivalent.” 

  The other three Epsilon entities dismissed in the SCERS’ lawsuit were Epsilon Global  Master Fund II, L.P., Epsilon Investment Management LLC, Epsilon Global Asset  Management Ltd., which are part of the Epsilon and Westford family of funds managed  by Steve G. Stevanovich. 

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1