BOSTON, Oct 14 (Reuters) – A prominent hedge fund consulting group was sued by one of its clients this week for having suggested putting $3.25 million into Bayou Group, a hedge fund that collapsed last month, court papers show.
DePauw University filed a lawsuit in U.S. District Court in the Southern District of Indiana on Wednesday alleging the Hennessee Group and its principals, Lee Hennessee and Charles Gradante, failed to conduct the kind of due diligence they had promised their clients.
