Hedge Fund News From HedgeCo.Net

Goldman Sued Again for ‘Timberwolf’ Sale, Basis Capital Says

Bloomberg – Basis Capital, an Australian hedge fund, said one of its funds filed a new lawsuit in state court in New York against Goldman Sachs Group Inc. over the sale of securities known as Timberwolf and Point Pleasant.

The filing couldn’t immediately be confirmed from court records. A June 2010 lawsuit by Basis Capital’s Basis Yield Alpha Fund in federal court in Manhattan was dismissed earlier this year. U.S. District Judge Barbara Jones ruled the Australian fund couldn’t use U.S. securities laws to pursue its claims against Goldman Sachs.

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