PENSION COMMITTEE OF UNIVERSITY v. BANC OF AMERICA

No. 05 Civ. 9016(SAS).

591 F.Supp.2d 586 (2008)

The PENSION COMMITTEE OF the UNIVERSITY OF MONTREAL PENSION PLAN, et al., Plaintiffs, v. BANC OF AMERICA SECURITIES, LLC, Citco Fund Services (Curacao) N.V., the Citco Group Limited, International Fund Services (Ireland) Limited, PricewaterhouseCoopers (Netherland Antilles), John W. Bendall, Jr., Richard Geist, Anthony Stocks, Kieran Conroy, and Declan Quilligan, Defendants.

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

October 29, 2008.


Attorney(s) appearing for the Case

Scott M. Berman, Esq., Friedman Kaplan Seiler & Adelman LLP, New York, NY, for the Plaintiffs.

Seth M. Schwartz, Esq., William F. Clarke, Esq., Skadden, Arps, Slate, Meagher & Flom LLP, New York, NY, for Defendant IFSI.


OPINION AND ORDER

SHIRA A. SCHEINDLIN, District Judge:

I. INTRODUCTION

A group of investors brings this action to recover losses stemming from the liquidation of two British Virgin Islands ("BVI") based hedge funds in which they held shares: Lancer Offshore, Inc. ("Lancer Offshore" or the "Fund") and Omni-Fund Ltd. ("OmniFund" and together with Lancer Offshore, the "Funds").1 The Funds were managed by Michael...

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