Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Technology > Marketing Technology

Durus Hedge Fund Settles with Company for US$5.1 M

Your article was successfully shared with the contacts you provided.

WESTMINSTER, Colo. (–Durus Life Sciences Master Fund Ltd. and its manager Durus Capital Management, Norwalk, Conn., settled claims with a biotechnology company it had invested in by paying the company, Allos Therapeutics, US$5.1 million, according to a statement from Allos.

Allos is one of four companies in which Durus allegedly purchased large enough amounts that mandatory regulatory filings should have been filed by Durus but weren’t. Durus has been sued by the other three firms, Esperion Technologies Inc., Ann Arbor, Mich., Aksys Ltd., Lincolnshire, Ill., and Novoste Corp., Norcross, Ga. .

According to a report on, Durus Principal Scott Sacane is losing control of the firm, with new directors being appointed by Durus fund investors. Mr. Sacane could not be reached for comment.

[email protected]


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.