New York (HedgeCo.Net) – Hedge fund adviser Highland Capital Management won a summary judgment against a group of investors seeking more than $215 million. The judgment, which was granted in a Texas court, dismissed all claims by the investors.

The investors included six individuals and family trusts, including a trust managed by a former chief financial officer of Goldman Sachs, and a feeder fund representing approximately 40 investors that sued Highland and the other Defendants in 2009, alleging various misrepresentations related to the scope of redemptions during the height of the global financial crisis in an investment fund managed by Highland. Highland argued that there were no false representations made by any of the defendants, and that the investors presented no evidence that they relied on any statements made by Highland.

“The summary judgment is important because it reaffirms that Highland was honest at all times with its investors,” said Paul Lackey, lead counsel for Highland. Michael Aigen, who argued the motion for summary judgment, said, “There simply was no evidence that Highland made any false representations or that the investors relied on any statements allegedly made by Highland.”

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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