Idnani v. Venus Capital Management, Inc.

Hinkle, Margaret R., J.

This action arises out of a dispute over the rights and interests of plaintiffs Rajesh Idnani and Neelem Idnani Julian in certain hedge funds managed by defendants Venus Capital Management, Inc., and Venus Investment Partners, LLC, corporations owned and/or managed by defendant Vikas Mehrotra. The plaintiffs claim (i) that the defendants wrongfully waived revenue-generating fees due the plaintiffs from two such hedge funds, and (ii) that the defendants then closed those funds, only to open essentially identical successor funds, in a fraudulent “shell game” scheme to…