SHENWICK v. HM RUBY FUND, L.P.

10225, 652082/11.

106 A.D.3d 638 (2013)

966 N.Y.S.2d 69

2013 NY Slip Op 3791

LINDA SHENWICK, Derivatively on Behalf of HIMELSEIN MANDEL OFFSHORE LIMITED, Appellant, v. HM RUBY FUND, L.P., et al., Respondents, et al., Nominal Defendant.

Appellate Division of the Supreme Court of New York, First Department.

Decided May 28, 2013.


Plaintiff, an investor in the nominal defendant Offshore Fund which is registered in the Cayman Islands, commenced this derivative action against the managers, directors and investment advisors of the fund alleging that they engaged in self-dealing by artificially inflating the value of assets held by the fund, thereby also artificially inflating the fund's net asset value so that they would receive higher compensation and bonuses...

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