Hedge Funds

Litigation for $1bn Lancer


The bad news just keeps on mounting for Lancer Partners, Michael Lauer's $1 billion hedge fund group, as pop princess Britney Spears and Sotheby's imprisoned former auction executive, Alfred Taubman, have joined the growing ranks of investors suing the firm. The lawsuits - bringing the litigation total against Lancer up to nine at the time of going to press - allege that Lauer declined to refund creditors' money contrary to an agreement reached on January 15. His supposed failure to honor redemption requests is causing growing concern among Lancer's investors, mostly made up of wealthy individuals such as