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Limited partner in hedge fund manager defends breach of duty claims

December 2009

Client(s) Lee, Stephen H.

Jones Day acted for Stephen H. Lee in defending claims brought by Lone Star in Bermuda for breach of fiduciary duty and disgorgement of all historic and future profits earned by Mr. Lee as a limited partner in a highly successful hedge fund management firm. The case involved extremely complex and novel issues of Bermudan and English law relating to the extent of disgorgement of profits permissible in the fashioning of an account of profits under equitable principles upon the establishment of breaches of fiduciary duty by a limited partner.

Lone Star Management Co Ltd & Others v Steven H Lee, Case No. 2008:No.59 (Supreme Court of Bermuda)

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