Bloomberg – Touradji Capital Management LP said it acted “professionally and appropriately” in all transactions with Amaranth Advisors LLC, which is suing for at least $350 million over claims that include breach of contract and misappropriation of trade secrets.

“We will fight these scurrilous allegations vigorously,” Chief Executive Officer Gil Caffray wrote in a letter to investors dated yesterday, a copy of which was obtained by Bloomberg News. Armel Leslie, a spokesman for New York-based Touradji Capital, declined to comment today.

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Tags: amaranth advisors, breach of contract, chief executive officer, investor, misappropriation

New York — The U.S. Court of Appeals for the Second Circuit has affirmed a district court’s decision that dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC. In the 36-page opinion issued July 14, 2009, the Second Circuit upheld in its entirety the August 2007 ruling by Judge Colleen McMahon of the U.S. District Court for the Southern District of New York that dismissed claims of breach of contract and securities fraud in South Cherry Street, LLC. v. Hennessee Group. All of South Cherry’s arguments on the appeal were found to be without merit.

The claims were in connection with Hennessee’s investment advice regarding Bayou Management’s hedge funds that were uncovered as part of a large Ponzi scheme, for which Bayou’s principals were found guilty of securities fraud in 2005.

“We are delighted with the Second Circuit’s decision that finds all claims of breach of contract and securities fraud against Hennessee are without merit. Bayou’s Ponzi scheme caused many unfortunate events, but the Court’s decision establishes that Hennessee was not a participant on any level,” said Bennett Falk, Hennessee’s trial counsel and a partner in the securities litigation and regulatory practice group in the Florida office of Bressler, Amery and Ross, P.C.

Tags: adviser, breach of contract, colleen mcmahon, fraud case, hedge fund, hedge funds, hennessee group, New York, ponzi scheme, regulatory practice, securities fraud, securities litigation, southern district of new york, unfortunate events

HedgeCo.net (West Palm Beach) – The U.S. Court of Appeals affirmed a district court’s decision that also dismissed a securities fraud case against New York-based hedge fund investment adviser Hennessee Group LLC.

Judge Colleen McMahon of the U.S. District Court for the Southern District of New York that dismissed claims of breach of contract and securities fraud in South Cherry Street, LLC. v. Hennessee Group. All of South Cherry’s arguments on the appeal were found to be without merit.

The claims were in connection with Hennessee’s investment advice regarding Bayou Management’s hedge funds that were uncovered as part of a large Ponzi scheme, for which Bayou’s principals were found guilty of securities fraud in 2005.

“We are delighted with the Second Circuit’s decision that finds all claims of breach of contract and securities fraud against Hennessee are without merit. Bayou’s Ponzi scheme caused many unfortunate events, but the Court’s decision establishes that Hennessee was not a participant on any level,” said Bennett Falk, Hennessee’s trial counsel and a partner in the securities litigation and regulatory practice group in the Florida office of Bressler, Amery and Ross, P.C.

Alex Akesson

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Tags: accredited-investors, breach of contract, bressler amery and ross, colleen mcmahon, florida office, fraud case, hedge fund, hedge funds, hennessee group, investment-adviser, ponzi scheme, practice group, regulatory practice, rsquo, securities fraud, securities litigation, south cherry street, southern district of new york, trial counsel, west palm beach