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Administration October 24, 2011
Court Dismisses Houston Municipal Lawsuit Against Highland Capital
October 24, 2011 (PLANSPONSOR.com) – A Delaware court has dismissed a lawsuit brought against Dallas-based investment adviser Highland Capital Management by the Houston Municipal Employees Pension System.
Reported by PLANSPONSOR staff
The Houston pension fund launched the suit after Highland announced three years ago it would shutter its Highland Crusader Fund. The system accused the money manager of looting the fund. (See JPMorgan Targeted in Pension Fund Suit against Hedge Fund).
According to a news report on FINalternatives, 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.