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Bank Austria Creditanstalt Case 01/12/2009

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Lawsuit Overview

Company
Security

Case Name
Bank Austria Creditanstalt Case 01/12/2009
Type of Lawsuit
Shareholder Class Action
Deadline To File for Lead
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Summary

On Monday, January 12, 2009, a shareholder has filed a proposed class action lawsuit in the United States District Court for the Southern District of New York (Case No. 09 CIV 00289) on behalf of all persons and entities who invested in the Herald USA Fund, Herald Luxemburg Fund, Primeo Select Funds and the Thema International Fund between January 12, 2002 through and including January 12, 2008.
According to the complaint the plaintiff alleges that between January 12, 2002 through and including January 12, 2008 unbeknownst to investors, defendant Medici Bank, along with defendants Sonja Kohn, Peter Scheithauer, Bank Austria Creditanstalt, Unicredit S.A., Pioneer Alternative Investments, Ernst & Young LLP, and HSBC Holdings plc, caused the Funds to concentrate almost 100% of their investment capital with entities that participated in the massive, fraudulent scheme perpetrated by defendants Bernard L. Madoff and Bernard L. Madoff Investment Securities.