EURYCLEIA PARTNERS, LP v. UBS SECURITIES, LLC

No. 0600874/2007

2008 NY Slip Op 32073 (U)

EURYCLEIA PARTNERS, LP, EDISON FUND LIMITED, FAIRFAX FUND LIMITED, NUCLEUS FUND LIMITED, SHAKTI FUND LIMITED, SONATA MULTI-MANAGER FUND, LP, LHS VENTURES LIMITED PARTNERSHIP, ALEXANDER H. TYNBERG, NAN C.F. TYNBERG, THE REDINGTON MOOR RESIDUAL TRUST, EMERALD PRIVATE EQUITY FUND, JOHN M. EBERLE, FRANK D. HARRISON CAPSTONE PARTNERS, L.P., JANICE J. DEGENHART BARBARA DEHAVEN AS TRUSTEE OF THE JOSEPH W. DEHAVEN MD PC PENSION ACCOUNT, FRANK BANKO, ERIK GUSTAFSON, IVISIONARY MULTI-STRATEGY FUND, L.P., AND VCG MANAGEMENT, INC. Plaintiffs, v. UBS SECURITIES, LLC, Defendants.

Supreme Court of the State of New York, New York County.

July 1, 2008.


CHARLES E. RAMOS, Judge.

Defendant UBS Securities, LLC (UBS) moves to dismiss the complaint (CPLR 3211 [a] [1], [3], [7]).

Background

Plaintiffs1 are limited partners that invested in Wood River Partners, L.P. (The Fund), a now defunct hedge fund, from January 2003 to August of 2005. UBS was the prime broker and custodian for the Fund's stock.

Beginning in 2004, the Fund's investment manager, John Whittier, amassed...

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