In a hotly contested alternative investment hedge fund dispute involving a billionaire family office, the Connecticut Complex Litigation Court recently reduced an award after trial by more than half. In a motion to modify, Pastore LLC argued that requiring their clients to pay this amount plus interest would be excessive, due to a settlement payment previously received by Plaintiff in a related federal court proceeding. The judge agreed with Pastore LLC on that issue. The issue of costs and attorney’s fees is still pending. Additionally, Pastore LLC’s client won the aforementioned related case in federal court and the corresponding appeal before the Second Circuit, and thus, the entire state court matter is subject to appeal.
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