Renee McMahon was retained by the US Securities and Exchange Commission to testify in a matter involving two private equity managers accused of, among other things, inflating the value of certain investments in a fund and misleading investors.
McMahon testified on July 28, 2022 in the US District Court for the Western District of Wisconsin. Her assessment of the fair market value of one of the fund’s investments on various dates demonstrated that the actual fund value was less than the value reported by the fund managers and reported to investors. The jury found the fund managers liable for securities fraud in their management of the Greenpoint Tactical Income Fund.
The case is US Securities and Exchange Commission, Plaintiff, v. Bluepoint Investment Counsel, LLC, Michael G. Hull, Christopher J. Nohl, Chrysalis Financial LLC, Greenpoint Asset Management II LLC, Greenpoint Tactical Income Fund LLC and GP Rare Earth Trading Account LLC, Defendants, US District Court for the Western District of Wisconsin, Case No. 19-cv-809.