Sadis & Goldberg Retained by Prominent Hedge Fund Manager to Investigate Possible Legal Violations at Ambit Bridge Loan Fund

NEW YORK, May 7, 2013 /PRNewswire/ -- Sadis & Goldberg LLP has been retained by a prominent hedge fund manager to investigate potential breaches of fiduciary duties and securities fraud by Ambit Funding and Y. Judd Shoval ("Ambit").  The investigation focuses on allegations that Ambit artificially inflated the Net Asset Value of the Ambit Bridge Loan Fund I ("Ambit Fund") to increase management fees, while suspending investor redemptions since September 2008.  The firm is also investigating whether Ambit Fund has operated as a "Zombie Fund" by continuing to operate without significant activity, to increase management fees and maintain the appearance of a positive track record.

On behalf of its hedge fund manager client, who invested through a Charitable Trust, Sadis & Goldberg is exploring legal action to address Ambit's alleged wrongdoing.  This may include litigation or investor activism to seek the winding down of the Ambit Fund.  Ambit has allegedly failed to substantially wind-down or liquidate the Ambit Fund, despite freezing investor redemptions almost five years ago.  

If you are an investor in the Ambit Bridge Loan Fund or have otherwise invested with Ambit, and wish to obtain additional information or protect your investment, please contact Samuel J. Lieberman of Sadis & Goldberg at (212) 573-8164 or by email at [email protected].

About Sadis & Goldberg LLP

Sadis & Goldberg LLP is a leading New York based law firm focused on delivering sophisticated and creative legal solutions in a highly professional manner. The firm is recognized for its financial services practice that consists of representing several hundred investment advisers and related investment entities (including hedge funds, private equity funds and venture capital funds).  Similarly, the firm provides regulatory and compliance advice and representation in connection with SEC enforcement proceedings.  Notwithstanding the emphasis on the financial services industry, the firm also provides a full range of tax, litigation, regulatory, real estate, intellectual property and corporate services to its clients. 

SOURCE Sadis & Goldberg LLP

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