Houston Municipal Lawsuit Against Highland Capital Dismissed
DALLAS, Oct. 24, 2011 /PRNewswire/ -- Highland Capital Management, L.P., a Dallas-based, SEC-registered investment adviser with approximately $24 billion in assets under management, today announced that a prior lawsuit from the Houston Municipal Employees Pension System has been dismissed. No compensation in any form has passed directly or indirectly from any of the defendants to the plaintiff or the plaintiff's attorneys in connection with the dismissal of this lawsuit, and no promise to give any such compensation has been made.
In a past statement, Highland stated that the lawsuit was meritless and would be dismissed. The firm also stated that this action was an attempt to create financial leverage for one party's benefit at the expense of all other investors in the Highland Crusader Fund and to derail an investor-led mediation process. That effort failed, as the investor-led process produced a plan of distribution which was approved by approximately 86% of investors.
Highland is pleased to put this matter behind it and continues to work in the best interest of all investors and execute the approved distribution plan for Highland Crusader Fund.
The case number is 6510-CS in the Court of Chancery of the State of Delaware.
About Highland Capital Management, L.P.
Highland Capital Management, L.P. is an SEC-registered investment adviser with approximately $24 billion of assets under management. It is one of the largest and most experienced global alternative credit managers, specializing in bank loans, high-yield credit, distressed debt, structured products, real assets, and long-short equities.
Highland's diversified client base includes public pension plans, foundations and endowments, corporations, financial institutions, fund of funds, governments, high net-worth individuals, and mutual fund investors. To best meet the different goals of these investors, Highland offers a variety of products, including credit funds, private equity-style funds, managed separate accounts, hedge funds, retail mutual funds, and collateralized loan obligations (CLOs).
Highland Capital is headquartered in Dallas, Texas and maintains offices in New York, London, Singapore, and Seoul.
SOURCE Highland Capital Management, L.P.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article