PENSION COM. UNIV. OF MONTREAL v. BANC OF AMERICA

Docket No. 07-3527-cv.

568 F.3d 374 (2009)

PENSION COMMITTEE OF the UNIVERSITY OF MONTREAL PENSION PLAN, The Altar Fund, Aries Trading, Ltd., The Arrowsmith Fund Ltd., Avison Company S.A., Banco Nominees (I.O.M.) Limited, Bank of Bermuda (Luxembourg), S.A., now called HSBC Security Services (Luxembourg) S.A., on behalf of Liberty Ermitage North American Absolute Fund Ltd., Banque Privee Edmond de Rothschild Europe, Caceis Bank Luxembourg, as assignee of Banque Privee Edmond de Rothschild Europe/Isofin f/k/a Credit Agricole Investor Services Bank Luxembourg, John G. Barrie, Jr. Ira, an individual retirement account ("IRA") held on behalf of John G. Barrie, Jr., Base Force, Ltd., Bombardier Trust (Canada), as agent of the administrators of the pension funds of Bombardier Inc. whose assets are collectively invested in the Bombardier Trust (Canada) (Foreign Assets) Fund, The Bombardier Trust (UK), The Bombardier Trust (U.S.) Master Trust, Cedar Fund, Clearwater Commercial Enterprises, Inc., Commonfund Global Hedged Partners, LLC, Condor Alternative Fund, The Corbett Family Charitable Foundation Inc., The Coronation International Active Fund of Funds, Fortis Global Custody Management and Trustee Services (Ireland) Limited as Trustee for Coronation Universal Fund, The Devon Trust, Dirmica Investment Ltd., Diversified Capital Management Ltd., Mellon Bank, N.A., as Trustee for the Dominion Resources Inc. Master Trust, Alain Dunand, Ethos Investments Ltd., First Trust Corp., as Trustee for the benefit of Paul J. Simon, Shirley A. Simon and Joseph Cueter, Fondation Lucie Et Andre Chagnon, Andre Chagnon, Sojecci II Ltee., Fondation Lilla, Goulam Investments Inc., GT Alpha, Christa Gunter, Hermes Trading Ltd., HSBC Private Bank (Suisse) SA, formerly known as HSBC Republic (Suisse) SA, Defined Benefit Plan for Hunnicutt & Co., Inc., Ira, for the benefit of William Hunnicut VFTC as Custodian, The Israel Henry Beren Charitable Trust, Joyce Sinclair Spousal Trust, Kredeitbank Luxembourg, a/c Special Opportunities Fund, Kuwait and Middle East Financial Investment Company, La Compagnie Financiere Edmond de Rothschild Banque, Cecile Lescoat, LGT Bank in Liechtenstein AG, L.H. Logarithm Holdings SA, Livsforslkringsselskapet Nordea Liv Norge as, Madison Textiles, Ltd., Maestro Trading, Inc., Mirelis Investrust SA, Vittorio Mosca, The Morton Meyerson Family Foundation, The 1999 Meyerson Charitable Remainder Trust, Multivalor Invest Inc., National Bank of Canada, Nemrod Leveraged Holdings Ltd., Nobilis S.A., Suzanne Fontan S.C.A., Halinvest Sarl, Delphi Global Limited, Joakim Lehmkuhl, Iscandar International S.A., f/k/a Simisa International S.A., Labiscouti Trust, Kikousu Trust, Okabena Marketable Alternatives Fund, LLC, The Pension Commitee of Regime Des Rentes Du Mouvement Desjardins, Anne-Chantal Pigelet, Pictet & Cie Banquiers, Stephen Gross, Irving Teitelbaum, Laurence Lewin, in their capacities as the trustees of RCA in Trust, The Pension Committee of the Pension Plan for the Regime de Retraite de La Corporation de L'Ecole Polytechnique, Rothschild Gestion, Satnam Investments Ltd., Seven Seas Portfolio a Limited, Signet Multi-Manager Inc., UEB (United European Bank) Geneva (Switzerland), Sil Nominees Limited, SPGP (Societe Privee de Gestion de Patrimoine), Joann St. Germain, The Stafford Fund, Ltd., successor to the Stafford Opportunity Fund, Ltd., Starvest Funds, Ltd., The Taurus Fund, Successor-in-Interest to Turkos Seventeen Limited, Team Haas USA, Ltd., Trendtrust SA, James Vaughan, Venere Investments Limited, Vidacos Nominees Limited, Westwind Foundation Holdings Ltd., Wyatt Incorporated Employees Profit Sharing Plan, 171212 Canada, Inc., AIS Holdings Series Trust II, Commerzbank Global Alternative Limited, Commerzbank Alternative Stategies-Global Hedge, Vesta Forsikring as, Fund Nominees Ltd., Oran Limited and Aberdeen Investments Ltd., Plaintiffs-Appellants, v. BANC OF AMERICA SECURITIES LLC, Defendant-Appellee, Citco Fund Services (Curacao), N.V., The Citco Group Limited, Kieran Conroy, Declan Quilligan, Anthony Stocks, Pricewaterhousecoopers (Netherlands Antilles), International Fund Services (Ireland) Limited, Richard Geist, John W. Bendall, Jr. and Inter Caribbean Services Limited, Defendants.

United States Court of Appeals, Second Circuit.

Decided: June 9, 2009.


Attorney(s) appearing for the Case

Peter K. Vigeland, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY, (Dawn M. Wilson, on the brief), for Defendant-Appellee.

Scott M. Berman, Friedman Kaplan Seiler & Adelman LLP, New York, NY, (Anne E. Beaumont, Amy C. Brown, on the brief), for Plaintiffs-Appellants.

Before: LEVAL and B.D. PARKER, Circuit Judges.


LEVAL, Circuit Judge:

Plaintiffs appeal from the judgment of the United States District Court for the Southern District of New York (Scheindlin, J.) dismissing their claims against Banc of America Securities LLC ("BAS"), without leave to replead, for failure to state a claim upon which relief may be granted. Fed.R.Civ.P. 12(b)(6). Plaintiffs were investors in two hedge funds based in the British Virgin Islands, Lancer...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases