Legal Opinion
Marie Raymond Revocable Trust v. MAT Five LLC
Court of Chancery of Delaware
Decided December 19, 2008No. C.A. 3843-VCLPublishedCited by 6 opinions
1Opinion of the Court
OPINION
LAMB, Vice Chancellor.
In June of 2005, Citigroup or one of its affiliates formed MAT Five LLC, a fund created to invest in Municipal Opportunity Fund Five LLC (“MOF Five”). MOF Five was created to make economically leveraged investments in fixed-rate, tax-exempt municipal bonds. The various portfolios within MAT Five required a minimum investment of either $250,000 or $500,000 and shares in the portfolios were sold to over 1,000 high net worth investors. By February 2008, due in part to the weakening credit markets and a shift in the historical relationship between municipal bond rates…
2Cases cited25 opinions
- Phillips Petroleum Co. v. ShuttsSupreme Court of the United States · 1985
- Gustafson v. Alloyd Co.Supreme Court of the United States · 1995
- Matsushita Electric Industrial Co. v. EpsteinSupreme Court of the United States · 1996
- Devlin v. ScardellettiSupreme Court of the United States · 2002
- Eisenberg v. GagnonCourt of Appeals for the Third Circuit · 1985
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3Cited by6 opinions
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- In Re AMC Entertainment Holdings, Inc. Stockholder LitigationCourt of Chancery of Delaware · 2023
- In re Ebix, Inc. Stockholder LitigationCourt of Chancery of Delaware · 2018
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