Hedge Funds

Redcoat losers still missing their K1s

by

Investors who lost their shirts in Ken Londoner's now-defunct $400 million Redcoat Capital Management are wondering if they will finally receive the "K1" forms they need to claim a tax deduction for the money the fund cost them two years ago. Last month a California judge threw out a suit that Londoner had brought against CIBC Oppenheimer, claiming that the firm hadn't lived up to a marketing agreement, contributing to his fund's loss of 91.3% in 1991. Since then, Londoner has refused to admit the loss and prevailed on investors to wait until the conclusion of the suit