New York (HedgeCo.net) – London hedge fund Rubicon Fund Management LLP have issued legal proceedings against two of its former fund managers, Santiago Alarco and Tim Attias. Also included in the legal action is Catherine Cripps, who was an Investment Director with a former Rubicon investor.

The claim includes allegations that Alarco and Attias conspired and acted in breach of contract regarding the launch a new global macro fund which was reported to be called SATA Partners.

“Aside from the legal proceedings we are keen to correct recent media reports about the historic management of our funds.” A Rubicon spokesman said, “Paul Brewer, the man who built Rubicon, is now very much back in the driving seat and is determined to protect the interests of investors and Rubicon’s reputation.”

The $1.4 billion hedge fund is seeking Declaratory Relief, Injunction, Damages and Account of profits and costs.