In the first successful prosecution of a hedge fund in the United States, Mr. Young obtained a $4,600,000 verdict against a hedge fund who induced a trust to invest with gross misrepresentations that municipal bond arbitrage derivatives were a low-risk, high-yield secure investment. The trusts invested $6,000,000 and within four months had lost $4,600,000. At the end of the 30-day trial, the jury returned a verdict of $4,600,000.
See the full record: View Steven R. Young’s complete verdicts and settlements — $750M+ recovered in 46 years of trial work.
