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Hedge fund files lawsuit against money market fund
 
  Hedgeweb - THU, SEP 25 2008
Funds & Investment Third Avenue Institutional International Value Fund, a fund of Third Avenue Management, a New York hedge fund, has filed a class action law suit against The Reserve Management Company of New York.

The Reserve last Friday filed with the Securities and Exchange Commission to suspend all of its redemptions and postpone the distribution date of payments for a period longer than seven days.

Hedge funds currently have parked an estimated $100bn in money market funds.

 
 
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