US judge dismisses suit against Paulson for China bet

John Paulson scored a legal victory when a US federal judge dismissed a lawsuit that charged the billionaire hedge fund manager failed to properly research an investment in China’s Sino-Forest that cost his fund hundreds of millions in losses.

An amended order was entered on March 31, this year, granting Paulson’s motion to dismiss the case, court papers show.

Hugh Culverhouse, whose family had once owned the Tampa Bay Buccaneers football team, sued Paulson a year ago over the Sino-Forest investment, which turned into one of the hedge fund’s biggest losses.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1206053/us-judge-dismisses-suit-against-paulson-china-bet