MSN – Former Babcock and Brown-backed hedge fund Everest Financial Group is being sued by two Sydney businessmen for what they say is a breach of guarantee and misleading and deceptive conduct in relation to two investment schemes in which they invested $5 million.
Brothers Bernard Stang and Maurie Stang say that Everest Capital and two of its directors, Jeremy Reid and Steven Eckowitz, had induced them to invest in the schemes with performance guarantees of up to 6.75 per cent a year.
