Paige Capital v. Lerner Master Fund [PREMIUM]

Summary

In this financial services litigation proceeding, plaintiff Paige Capital Management LLC, a hedge fund alleged Lerener Master Fund, its sole investor of breach of partnership agreement by trying to withdraw its money from the fund. In the counter lawsuit filed against the plaintiff the defendant claimed that the hedge manager threatened the defendant if the defendant tried to withdraw its investment from the fund.

The plaintiff Paige Capital Management LLC was represented by attorney William Donal. The defendant in this case, Lerner Master Fund LLC was represented by attorney Joel Friedlander.

Outcome

The court ordered the capital from the Lerner Fund be returned with pre-judgment interest since Octobe 31, 2010. Also, the Paiges had to repay the Hedge Fund any management and incentive fees earned on the capital since October 31, 2010. The claims against the Lerner Fund all failed. The Paiges were ordered to repay the Hedge Fund any fees and expenses advanced in relation to the litigation.

Case Information

Attorneys

Witnesses

Plaintiff: Paige Capital Mgmt LLC
Defense: Lerner Master Fund, LLC

Judge: Leo Strine
Jurisdiction: Delaware Court Of Chancery
Court: New Castle County Courthouse

Case Number: 5502-VCS
Industry: Finance
Practice Area: Financial Services, Securities

Plaintiff

Paige Capital Mgmt LLC

Represented By:
Dolan, William (Brown Rudnick LLP)

Defense

Lerner Master Fund, LLC

Represented By:
Friedlander, Joel (Bouchard Margules & Friedlander, PA)

Expert Witnesses

Lay Witnesses

Sessions

Attorney

Witness

Type

Description

AM Session

Plaintiff Witness(es)

4 Chapters

	Description	Attorney	Witness	Presence
00:00:00	Witness Direct Examination	Dolan, William	Paige, Michele	In Person
01:46:42	Break
02:02:20	Witness Direct Examination	Dolan, William	Paige, Michele	In Person
03:24:55	End of Session

PM Session

Plaintiff Witness(es)

5 Chapters

MAR

AM Session

Plaintiff Witness(es)

6 Chapters

	Description	Attorney	Witness	Presence
00:00:00	Witness Cross Examination	Friedlander, Joel	Paige, Michele	In Person
00:38:10	Witness Re-Direct Examination	Dolan, William	Paige, Michele	In Person
01:04:54	Witness Direct Examination	Dolan, William	Bolandian, Rob	In Person
01:29:56	Break
01:36:22	Witness Direct Examination	Dolan, William	Bolandian, Rob	In Person
03:04:20	End of Session

PM Session

Plaintiff Witness(es)

7 Chapters

	Description	Attorney	Witness	Presence
00:00:00	Witness Direct Examination	Dolan, William	Bolandian, Rob	In Person
00:08:43	Witness Cross Examination	Duffy, Christopher	Bolandian, Rob	In Person
01:30:07	Break
01:46:46	Witness Cross Examination	Duffy, Christopher	Bolandian, Rob	In Person
02:04:26	Witness Direct Examination	Dolan, William	Paige, Christopher	In Person
02:43:20	Witness Cross Examination	Duffy, Christopher	Paige, Christopher	In Person
03:20:06	End of Session

MAR

AM Session

Plaintiff Witness(es)

12 Chapters

	Description	Attorney	Witness	Presence
00:00:02	Witness Direct Examination	Dolan, William	Rabinowtiz, Mr. Muray	In Person
01:23:12	Witness Cross Examination	Friedlander, Joel	Rabinowtiz, Mr. Muray	In Person
01:39:55	Break
01:59:43	Witness Cross Examination	Friedlander, Joel	Rabinowtiz, Mr. Muray	In Person
03:16:58	Witness Re-Direct Examination	Dolan, William	Rabinowtiz, Mr. Muray	In Person
03:25:29	Break
03:56:34	Witness Re-Direct Examination	Dolan, William	Rabinowtiz, Mr. Muray	In Person
04:09:39	Witness Direct Examination	Duffy, Christopher	Wood, Christianna	In Person
04:46:54	General Case Activities		Wood, Christianna	In Person
05:05:49	Witness Direct Examination	Duffy, Christopher	Wood, Christianna	In Person
05:33:49	General Case Activities		Wood, Christianna	In Person
05:43:32	End of Session

PM Session

Not in Session

0 Chapters

APR

AM Session

Plaintiff Witness(es)

6 Chapters

	Description	Attorney	Witness	Presence
00:00:00	General Case Activities
00:00:53	Witness Direct Examination	Duffy, Christopher	Wood, Christianna	In Person
00:12:15	Witness Cross Examination	Friedlander, Joel	Wood, Christianna	In Person
01:08:22	Witness Direct Examination	Jonas, Jeff	Logue, Dr. Dennis	In Person
01:34:48	Witness Cross Examination	Froot, Steven	Logue, Dr. Dennis	In Person
01:45:15	End of Session

PM Session

Plaintiff Witness(es)

11 Chapters

	Description	Attorney	Witness	Presence
00:00:02	Witness Cross Examination	Froot, Steven	Logue, Dr. Dennis	In Person
00:09:10	Witness Cross Examination	Duffy, Christopher	Paige, Christopher	In Person
01:59:58	Break
02:09:28	Witness Re-Direct Examination	Dolan, William	Paige, Christopher	In Person
02:15:34	Witness Direct Examination		Gould, Jared	Video Recording
02:16:37	Witness Direct Examination		Paige, Jessica	Video Recording
02:28:22	Witness Direct Examination	Froot, Steven	Maltey, Mr. John	In Person
03:02:11	Witness Cross Examination	Jonas, Jeff	Maltey, Mr. John	In Person
03:26:34	Witness Direct Examination	Froot, Steven	Lerner, Mr. Randy	In Person
03:55:47	General Case Activities
03:59:22	End of Session

APR

Recording Disclaimer: This proceeding was recorded in full except noted sections that were not recorded.

Paige Capital v. Lerner Master Fund [PREMIUM]

Summary

Outcome

Sessions

AudioCaseFiles

Essentials

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