The board of the San Diego County Employees Retirement Association will appeal a U.S. District Court judge's dismissal of its lawsuit against hedge fund Amaranth Advisors; the hedge fund's founder, Nicholas M. Maounis; and three of its managers.
The $7.2 billion association is disappointed with the ruling, said Johanna Shick, communications manager for the association.
Judge Deborah A. Batts dismissed the case March 15 “primarily because the SDCERA contract contained routine disclaimers that advise on some level of risk,” the association stated in a news release.
"Disclaimers weren't a license for Amaranth to do whatever it wanted at the expense of its clients,” Brian White, CEO of the association, said in a statement in the release.
