Panel: Investor Failed To State A Claim In Breach Of Fiduciary Duty Suit

Mealey's (February 18, 2016, 2:42 PM EST) -- ATLANTA — Dismissal of a breach of fiduciary duty lawsuit is proper because an investor’s claims were “derivative” and not “direct” as he had claimed, an 11th Circuit U.S. Court of Appeals panel ruled Feb. 17 (Hugh F. Culverhouse v. Paulson & Co. Inc., et al., No. 14-14526, 11th Cir.; 2016 U.S. App. LEXIS 2691).

(Opinion available. Document #57-160321-012Z.)

Hugh F. Culverhouse invested in HedgeForum Paulson Advantage Plus LLC, a feeder fund that invested in Paulson Advantage Plus LP.

After Paulson Advantage Plus lost $460 million...
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