June 17, 2024
ChapmanAlbin is investigating claims on behalf of stockholders who lost 95% of their principal invested in funds offered by Hatteras Investment Partners LP after Hatteras sold their funds to The Beneficient Company in 2021. Beneficient, associated with GWG, which declared bankruptcy in 2022 due to significant investor losses, faces allegations of misconduct and fraud in recent lawsuits against certain officers and directors. A class action filed in Delaware’s Court of Chancery on April 17, 2024, accuses Hatteras’ directors, including CEO David B. Perkins and audit committee members Gregory S. Sellers, Steve E. Moss, Thomas Mann, and H. Alexander Holmes, of breaching their fiduciary duty by selling the funds to Beneficient without investor notification, voting rights, or redemption opportunities, resulting in significant losses for plaintiffs Dr. Richard Steven Smith and John David Milley III.
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