Fraternity Fund Ltd. v. Beacon Hill Asset Management LLC

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July 5, 2005

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6282 Investment Advice
523920 Portfolio Management
securities litigation
net asset value, securities fraud
Fraternity Fund Ltd. v. Beacon Hill Asset Management LLC
2005 U.S. Dist. LEXIS 13094
US
Federal Court
New York
United States District Court
Charles R. Jacob III, Edward Flis, Emilio A. Galvan, Joel M. Miller, John D. Tortorella, Jonathan Frank, Kevin H. Marino, Lawrence S. Lustberg, Michael Critchley, Michael Critchley Jr., Robert G. Stahl, Scott M. Berman, Seth M. Schwartz, Teresa A. Gon
Kaplan

Summary

One of the issues was whether Beacon Hill's valuations were fraudulent because they deviated from valuations done by independent appraisers/brokers.
Fraternity Fund Ltd. v. Beacon Hill Asset Management LLC
PDF, Size: 255 KB

See Also

Disparity Between Valuations of Hedge Funds of Unlisted Securities Not Misleading by Itself; Self-Dealing Needed for Fraud

Legal and Court Case Update
November 2005

Beacon Hill Asset Management LLC (Beacon Hill), an investment manager of hedge funds that invested in mortgage-backed and related securities, allegedly overstated the net asset values (NAV) of three funds from March 2000 through September 2002 by as much as 61.22%.