CSO Partners Hedge Fund
Citigroup (NYSE:C – News) has stopped investor redemptions in its London based hedge fund, CSO Partners.
An alliance of securities law firms is representing institutional investors harmed by the subprime crisis and the collapse of mortgage backed securities. The team includes the firms of Aidikoff, Uhl & Bakhtiari, of Beverly Hills, Calif.; Maddox, Hargett & Caruso, P.C., of New York, N.Y. and Indianapolis, Ind.; Page Perry, LLC, of Atlanta, Ga.; and David P. Meyer & Associates Co., L.P.A., of Columbus, Ohio.
"The bank has suspended investor withdrawals on the heels of Citigroup providing $100 million to stabilize the fund last month amid significant losses," said attorney Steven Caruso of Maddox, Hargett & Caruso, P.C. "CSO Partners hedge fund investors may have a variety of remedies that they should discuss with qualified counsel."
Longtime fund manager, John Pickett, has left the fund following a bitter dispute with Citigroup executives and complaints from investors that the manager over concentrated the fund into a single investment that went bad.
"We believe that the outsized position taken by fund managers may have exceeded Citigroup internal trading limits and may demonstrate a failure by Citigroup to closely supervise and monitor Mr. Pickett's trading activities," added Ryan Bakhtiari of Aidikoff, Uhl & Bakhtiari.
For more information or to discuss the specific facts of your CSO Partners Hedge Fund investment, please contact us.