The Hedge Funds Weblog

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Hedge fund Falcon Strategies Two B LLC, is suing a business unit of Citigroup, accusing the financial giant of failing to disclose a change in risk, causing the west palm beach hedge fund to loose more than 40% of its value.

The hedge fund's law firm filed the suit in the U.S. District Court in Southern Florida on behalf of all purchasers of the hedge fund between Sept. 30, 2005 and Jan. 8, 2008. It is seeking class-action status and compensation and punitive damages.

The 18-page, four-count suit, accuses the defendants of: fraud, violations of the Florida Blue Sky Law, negligent misrepresentation and violation of the 1933 Securities Act.

More at; Florida Hedge Fund Sues Citigroup

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