New York (HedgeCo.net) –  The lawsuit from the Houston Municipal Employees Pension System against Dallas-based hedge fund adviser,  Highland Capital Management, L.P., has been dismissed.

No compensation in any form has passed directly or indirectly from any of the defendants to the plaintiff or the plaintiff’s attorneys in connection with the dismissal of this lawsuit, and no promise to give any such compensation has been made

In a past statement,  Highland stated that the lawsuit was meritless and would be dismissed. The firm also stated that this action was an attempt to create financial leverage for one party’s benefit at the expense of all other investors in the Highland Crusader Fund and to derail an investor-led mediation process. That effort failed, as the investor-led process produced a plan of distribution which was approved by approximately 86% of investors.

Highland Capital is headquartered in Dallas, Texas and maintains offices in New York, London, Singapore, and Seoul.