{"id":10483,"date":"2009-04-30T00:00:00","date_gmt":"2009-04-30T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"investor-sues-perot-family-trust-over-hedge-fund-that-went-from-being-worth-billions-to-less-than-zero","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2009\/investor-sues-perot-family-trust-over-hedge-fund-that-went-from-being-worth-billions-to-less-than-zero.html","title":{"rendered":"Investor sues Perot Family Trust over hedge fund that went from being worth billions to &#8216;less than zero&#8217;"},"content":{"rendered":"<p><span class=\"vitstorybody\"><strong><span class=\"vitstorybyline\"><a href=\"mailto:bcase@dallasnews.com\"><br \/><\/a><\/span><\/strong> <span class=\"vitstorybody\">      <\/p>\n<p> Dallas Morning News &#8211; An investor in a Perot family hedge fund has sued the Perot Family Trust and several related parties, saying they grossly mismanaged the fund, which went bust in November after starting the year with $2.5 billion in net assets. <\/p>\n<p> Southern Avenue Partners LP said the fund &ndash; Bermuda-chartered Parkcentral Global Hub Ltd. &ndash; collapsed despite reassurances to investors that its trading strategies would protect it from deep losses. The hedge fund didn&#8217;t hedge, the complaint alleges. <\/p>\n<p> &quot;As a result of defendants&#8217; breach of fiduciary duty, the Global Fund imploded,&quot; said the lawsuit, referring to Parkcentral Global Hub. &quot;The Global Fund&#8217;s net asset value went from over $2.5 billion to less than zero.<\/p>\n<p><\/span><\/span><br \/>  <strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.dallasnews.com\/sharedcontent\/dws\/bus\/stories\/DN-perot_30bus.ART.State.Edition1.3aba150.html\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dallas Morning News &#8211; An investor in a Perot family hedge fund has sued the Perot Family Trust and several related parties, saying they grossly mismanaged the fund, which went bust in November after starting the year with $2.5 billion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[216,11070,11066,5052,5909,11068,5592,10884,10883,4650,4504,129,8446,11067,11069,7101],"class_list":["post-10483","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-asset-value","tag-bermuda","tag-breach-of-fiduciary-duty","tag-bust","tag-dallas-morning-news","tag-family-trust","tag-global-fund","tag-global-hub","tag-hub-ltd","tag-investor","tag-investors","tag-losses","tag-net-assets","tag-parkcentral","tag-related-parties","tag-trading-strategies"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10483"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10483\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}