(Reuters) - NEW YORK, July 3 - Archeus Capital Management LLC, a
hedge fund firm which collapsed last year, sued its former fund
administrator GlobeOp Financial Services LLC in a New York court
late Monday, claiming GlobeOp contributed to its failure.
New York-based Archeus, whose assets shrank from $3 billion
in May 2005 to about $700 million by October 2006, blamed
GlobeOp for "colossal failures" in reconciling billions of dollars
in trades in the Animi funds that were managed by Archeus. The
suit, filed in New York State Supreme Court, seeks at least $465
million in damages.
Read more at Reuters.com Mergers News
hedge fund firm which collapsed last year, sued its former fund
administrator GlobeOp Financial Services LLC in a New York court
late Monday, claiming GlobeOp contributed to its failure.
New York-based Archeus, whose assets shrank from $3 billion
in May 2005 to about $700 million by October 2006, blamed
GlobeOp for "colossal failures" in reconciling billions of dollars
in trades in the Animi funds that were managed by Archeus. The
suit, filed in New York State Supreme Court, seeks at least $465
million in damages.
Read more at Reuters.com Mergers News
No comments:
Post a Comment