Alki Partners, LP v. DB Fund Services, LLC

Opinion

NARES, J.

After allegedly losing millions of dollars in a hedge fund, investors sued the fund’s administrator for breach of contract, alleging the administrator failed to (1) value the hedge fund’s assets, (2) advise investors of the hedge fund’s net asset value, and (3) respond to investor inquiries about the fund. The superior court granted summary judgment in favor of the fund administrator, determining the undisputed material facts established no breach of contract. Later, the court awarded the fund administrator $3,027,237.96 in attorney fees based upon a contractual provision…