NEW YORK (HedgeWorld.com)–The lawyers sued by investors for losses in Wood River Capital Management hedge funds say they will vigorously defend against the case, which they describe as being without merit.
The law firm, Seward & Kissel LLP, said in a statement that when it learned about a problem in the funds last year, it informed the Securities and Exchange Commission so action could be taken to assist Wood River investors, and it resigned as counsel.
Seward & Kissel did not have information about the hedge fund portfolios that was unavailable to investors, the statement says. Moreover, the law firm questions whether most of the plaintiffs were really investors in Wood River.
“To our knowledge, none of them ever spoke with, contacted or relied on Seward & Kissel,” the firm said in the statement.