A former investor in John Paulson's hedge funds is suing Mr. Paulson's firm, alleging it failed to conduct sufficient due diligence into Sino-Forest Corp. before and after purchasing shares of the Chinese forestry company, an investment that cost Paulson & Co. about $500 million last year, the Wall St Journal reports.
Hugh F. Culverhouse, a former federal prosecutor and Miami-based investor whose family once owned the Tampa Bay Buccaneers football team, filed the lawsuit Tuesday morning in U.S. District Court for the Southern District of Florida. Mr. Culverhouse, a longtime investor in various hedge funds, once invested more than $12 million in five different Paulson ...
Find out more at http://online.wsj.com/article/SB10001424052970204131004577237233267253456.html?mod=WSJ_hp_LEFTWhatsNewsCollection
No comments:
Post a Comment