Fort Mill Times – A local hedge fund has responded with a lawsuit of its own after being sued more than a year ago by a group of California hedge funds.
Jayhawk Capital Management and its principal owner, Kent C. McCarthy, filed a lawsuit Friday in federal court in Kansas City, Kan., 13 months after being sued by PrimariusCapital LLC.
Jayhawk and McCarthy say Primarius cost Jayhawk millions of dollars by making slanderous statements.
Primarius’ statements "were willfully and maliciously aimed at conveying the false message that Jayhawk and McCarthy’s business practices are unethical and illegal," the lawsuit charges.
Primarius’ attorney, Philip Heller of Los Angeles, said Jayhawk’s new lawsuit is "more of the same nonsense."
The federal lawsuit counters an action brought by Primarius and its principal, Patrick Lin of Orinda, Calif., in March 2007 in federal court in San Francisco. That lawsuit accused Jayhawk of defrauding Primarius and Lin. It alleged that McCarthy offered to provide the Primarius funds with investment capital and advice but sold stocks in which he had recommended they invest.
