LAKONIA MANAGEMENT LTD. v. MERIWETHER

No. 99 Civ. 5064 SAS.

106 F.Supp.2d 540 (2000)

LAKONIA MANAGEMENT LIMITED (formerly known as Montreux Investment Ltd.), Plaintiff, v. John W. MERIWETHER, Long-Term Capital V, Ltd., Long-Term Capital Portfolio Co., L.L.C., Long-Term Capital Management, L.P., Bankers Trust Corporation, Barclays PLC, The Chase Manhattan Corporation, Credit Suisse First Boston, Deutsche Bank AG, The Goldman Sachs Group, L.P., Lehman Brothers Holdings Inc., Merrill Lynch and Co., Inc., J.P. Morgan & Co., Inc., Morgan Stanley Dean Witter & Co., Paribas, Societe Generale, Citigroup, Inc. and UBS AG, Defendants.

United States District Court, S.D. New York.

July 27, 2000.


Attorney(s) appearing for the Case

Melvyn I. Weiss, Jerome M. Congress, Brian C. Kerr, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, for plaintiff.

Thomas P. Puccio, Law Offices of Thomas P. Puccio, New York City, Scott A. Edelman, David R. Gelfand, Richard E. Rosberger, Milbank, Tweed, Hadley & McCloy LLP, New York City, Philip A. Lacovara, Andrew L. Frey, Anthony J. Diana, Mayer Brown & Platt, New York City, for Meriwether and the Fund defendants.

Douglas M. Kraus, Seth M. Schwartz, Skadden, Arps, Slate, Meagher & Flom LLP, New York City, for Bank defendants.


OPINION AND ORDER

SCHEINDLIN, District Judge.

This action arises out of the near-collapse in September 1998 of the initially heralded, and now infamous, Long Term Capital Hedge Funds (the "LTC Funds" or "Funds"). Plaintiff Lakonia Management Limited ("Lakonia") is a former investor in the Funds. Plaintiff alleges that defendants — individuals, partnerships and corporations associated with the...

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