FRATERNITY FUND v. BEACON HILL ASSET MANAGEMENT

No. 03 CIV.2387 LAK.

479 F.Supp.2d 349 (2007)

FRATERNITY FUND LTD, et al., Plaintiffs, v. BEACON HILL ASSET MANAGEMENT, LLC, et al., Defendants,

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

March 27, 2007.


Attorney(s) appearing for the Case

Scott M. Berman, Robert S. Loigman, Heather J. Windt, Lee D. Vartan, Freidman Kaplan Seiler & Adelman LLP, for Plaintiffs.

Steven Wolowitz, Henninger S. Bullock, Andrew J. Calica, Mayer Brown Rowe & Maw LLP, for Defendant Banc of America Securities LLC.

Joel M. Miller, Claire L. Huene, Miller & Wrubel PC, for Defendants Prudential Financial, Inc., Prudential Equity Group, LLC, and Wachovia Securities, LLC.


OPINION

KAPLAN, District Judge.

Investors in several hedge funds bring this action against the funds' managers and certain financial institutions for participating in an alleged fraud. Banc of America Securities, LLC ("BAS") and Prudential Financial, Inc., Prudential Equity Group, LLC, and Wachovia Securities, LLC (collectively "Prudential") are charged with aiding and abetting fraud and breach of fiduciary duty by the funds' managers. They move to dismiss...

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