Stockholders v Collins Capital Low Volatility Performace Fund II, Ltd.
Stockholders File Lawsuit Against Collins Capital Low Volatility Performace Fund II, Ltd.
According to the complaint filed June 5, 2009, the Defendants grossly in a reckless fashion and in violation of their fiduciary duties to Plaintiff turned over a significant portion of Plaintiff s investment in the Collins Capital Fund to BMIS through the Feeder Fund.
The Defendants performed woefully inadequate due diligence and monitoring of its investments in the Feeder Fund and woefully inadequate due diligence of BMIS. Such due diligence did not conform to the representations and criteria delineated in theExplanatory Memo.
As a result of these failures, and in accordance with the scandal widely reported in the press, these monies have been lost to, or stolen by, the Madoff Ponzi scheme. Defendants' gross recklessness threatens a significant portion of Plaintiff s investments in the Collins Capital Fund.
Defendants were aware of, or grossly reckless in, not knowing or recognizing several significant "red flags" with respect to Madoffs Ponzi scheme.
If you bought Collins Capital Low Volatility Performace Fund II, Ltd. securities and would like to obtain information about the Collins Capital Low Volatility Performace Fund II, Ltd. lawsuit, then you are invited to call Kahn Swick Foti, LLC toll free at (866) 467-1400 to speak with an attorney or visit www.ksfcounsel.com.
